After hitting record high yesterday, the market has opened on a sluggish note Tuesday. The Sensex is down 14.18 points at 28485.36 and the Nifty is down 11.90 points at 8518.25. The Indian rupee opened flat at 61.90 per dollar against previous day's closing value of 61.94 a dollar. US stocks rose on hopes that China will take further accommodative monetary policy action if needed, while merger deals kept traders focused even as volumes were below average. Helping bullish sentiment was expectation central banks will continue to boost equities. Following last week's surprise rate cut, China's leadership and central bank are ready to cut interest rates again and to loosen lending restrictions. On BSE, Midcap and Smallcap were trading down by 0.81% and 0.87% respectively.
Further the market breadth stands positive with 727 advances are seen against 1414 declining shares.
Further the market breadth stands positive with 727 advances are seen against 1414 declining shares.
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