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Market rebounds on IT support; Nifty above 8200, Sensex gains

The market has opened lower tracking global markets reacting to Federal Reserve's interest rate. The Sensex is down 165.32 points or 0.6 percent at 26437.52 and the Nifty is down 53.20 points or 0.6 percent at 8129.25. About 198 shares have advanced, 701 shares declined, and 28 shares are unchanged.

Tata Motors, ITC, Bharti Airtel, Sun Pharma and Hero MotoCorp are losers in the Sensex. Among gainers are Adani Ports, Cipla, Infosys and Dr Reddy's Labs.

The Indian rupee has opened at 67.76 against the US dollar, down 33 paise from previous close after the Federal Reserve hiked interest rate and its commentary was more hawkish than expected.

Asian shares and currencies struggled on Thursday. In Japan, the Nikkei 225 surged 0.91 percent, likely due to a weaker yen which is near an 11-month low against the dollar. Across the Korean strait, the Kospi opened down 0.31 percent.

US stocks fell the most in two months Energy stocks weighed the most on the S&P 500 after a sharp drop in US crude oil prices. The Fed's decision to raise rates comes as President-elect Donald Trump, who will be sworn in next month, is seen cutting taxes and increasing spending on infrastructure.

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