Sensex, Nifty, Midcap under pressure; HDFC twins, ITC drag
The market has opened sharply lower with the Nifty below 8150. The 50-share index is down 47.70 points or 0.6 percent at 8145.20 and the Sensex is down 184.72 points. About 173 shares have advanced, 339 shares declined, and 35 shares are unchanged.
Wipro, Coal India and ONGC are top gainers while HDFC, Dr Reddy's Labs, Bharti, GAIL and Infosys are losers in the Sensex.
The Indian rupee opened marginally higher at 68.28 per dollar versus previous close 68.34. Bhaskar Panda of HDFC Bank said, "Uncertainty due to demonetisation and issues related to FCNR outflow is almost over. The effect of CRR increase is also discounted."
The dollar lost some ground against a basket of currencies as traders booked gains following a solid November and on caution ahead of today's government payrolls report.
Asian shares were flat in early trade following mostly sluggish sessions on Wall Street and Europe, as 10-year US Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs.