The Indian market witnessed a shaky start for the second day on a streak. The Sensex opened down by 200 odd points at 18398.78 - fell more than a percent and Nifty eased 64 points or 1.16% to open the session at 5443.75. The Indian rupee opened at 62.35 per dollar, hitting fresh all-time low against US dollar. It closed at 61.65 on Friday. We expect rupee to continue its downward journey as the recent policy decisions by the RBI have created fear of capital control in the minds of FIIs to withdraw money from the market. Moreover a weak equity, high dollar demand from importers and strong dollar in the overseas market will put pressure on the rupee. On international cues, US Stocks finished marginally lower, extending their losses for a third-straight session. Major indices posted their first back-to-back weekly losses since late June. The Dow posted its biggest weekly decline this year. Asian stocks kicked off the week lower after Japan's monthly trade deficit came in wider-than-expected. On BSE Midcap and Small cap are trading down by 1.14% and 0.75% respectively while on sectoral front the top performer is Consumer durables which is up by a percent and the worst one is Bankex, down 3.11% at the time of writing this.
Further the market breath remains negative with 597 shares having advanced, 1020 shares having declined and 80 shares reaming unchanged.
Further the market breath remains negative with 597 shares having advanced, 1020 shares having declined and 80 shares reaming unchanged.
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