Nifty below 8600, Sensex in red ahead of Economic Survey
The market has opened weak ahead of Budget with the Nifty marginally holding 8600. The 50-share index down 30.40 points or 0.3 pecent at 8602.35 while the Sensex is down 93.08 points or 0.3 percent at 27756.48.
ONGC, Dr Reddy's Labs, Cipla, Lupin and HUL are top gainers while GAIL, Coal India, Tata Motors, Infosys and Bajaj Auto are losers in the Sensex.
The Indian rupee rose in the early trade on Tuesday. It has opened higher by 11 paise at 67.84 per dollar versus previous close 67.95.
"The USD-INR pair is expected to trade in a range of 67.80-68.10/dollar for the day." The dollar slipped a percent against the yen overnight on trump policy concerns.
Among Asian markets, stronger yen pushed down the Nikkei over a percent. The index was also weak ahead of Bank of Japan’s key monetary policy decision. The Hang Seng index was down around 0.06 percent, almost flat with a negative bias.