The market has opened in negative terrain on January F&O expiry day, reacting to the Fed's decision to stick with its plan to continue to reduce its monthly bond purchases, which is now down to USD 65 billion, regardless of recent distress in emerging markets. The Indian rupee slipped in the early trade. It has opened lower by 49 paise at 62.90 per dollar versus 62.41 Wednesday. On International front, Asian stocks suffered heavy losses on Thursday amid fresh signs of a contraction in China's economy and following the Federal Reserve's decision to continue reducing its stimulus. US stocks dropped more than 1 percent on Wednesday, hitting session lows after the Federal Reserve stuck with its plan to scale back stimulus even in the midst of emerging market turmoil. On BSE, Midcap and small cap are trading lower with a decline of 1.09% and 1.16% respectively. On sectoral front, FMCG is leading the decline as all sector are under selling pressure with a fall of 2% as we write this.
Further the market breath stands negative with 452 shares are seen advancing against 1187 declining shares.
Further the market breath stands negative with 452 shares are seen advancing against 1187 declining shares.
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