Nifty below 8800, Sensex lower; ITC up 5% on SUUTI stake sale
The market opened moderately lower on Tuesday as investors awaited monetary policy committee decision due tomorrow.
The 30-share BSE Sensex was down 11.54 points at 28427.74 and the 50-share NSE Nifty fell 8.35 points to 8792.70.
BHEL, ITC, Sun Pharma, Wipro, GAIL, Aurobindo Pharma and IndusInd Bank were early gainers while Dr Reddy's Labs, ICICI Bank, Bharti Airtel, Axis Bank, ONGC, ACC and Eicher Motors were under pressure.
The Indian rupee has started off the day on a weak note with all eyes on RBI policy tomorrow. The currency opened at 67. 29 per dollar, a loss of 8 paise against yesterday's closing of 67.21 per dollar.
HDFC Bank says the dollar index has been trading in and around 100 pivot and apart from this fundamental factor, the rupee has been gaining due to positive impact of the Budget.