Sensex, Nifty consolidate ahead of Union Budget; Bharti jumps 5%
The market has opened in red on the crucial Budget week. The Sensex is down 16.18 points at 27866.28, and the Nifty down 8.10 points at 8633.15. About 197 shares have advanced, 131 shares declined, and 112 shares are unchanged.
ITC, L&T, ICICI Bank, Sun Pharma and ONGC are top gainers while Infosys, Tata Motors, Adani Ports, Axis Bank and HDFC Banks are losers in the Sensex.
The Indian rupee opened marginally lower at 68.06 per dollar on Monday versus Friday's close 68.04.
"We expect the dollar to gain and the trading range for the USD-INR pair is seen between 68-68.20/dollar."
In the Asian markets, Nikkei was trading lower by 0.77 percent after data showed that December retail sales rose 0.6 percent from the previous year. Another key event to watch for the markets there would be Bank of Japan’s crucial two-day monetary policy meeting. Meanwhile, markets in China, Singapore, Hong Kong, South Korea and Taiwan are shut for public holidays.