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Monday, January 5, 2015

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The market has opened with massive losses. The Sensex is at 27351, down 498 points while the Nifty is 8236, down 137 points. About 231 shares have advanced, 909 shares declined, and 478 shares are unchanged.

Tata Motors, Tata Power and Hindalco are other losers in the Sensex.

The dollar strength continues with dollar index hitting 91.5 levels and gaining against most currencies. The USD-INR pair has been relatively rangebound in the 63-63.50/dollar range. The Rupee is likely to be in the 63-64/dollar range with suspected intervention expected to continue.

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