Market edges lower in early trades; Nifty below 8850: Markets have started the trading session on a lower note as investors remain cautious ahead of the Union Budget to be presented in the forthcoming week. Sectors like FMCG, ITC and Oil & Gas are trading in negative zone. Japanese stocks rose to a fresh 15-year high on Friday and the dollar was on the front foot again on upbeat US data, but continuing uncertainty over the weighed on the euro.
At 9:35 AM, the S&P BSE Sensex was trading at 29265 down 197 points, while NSE Nifty was trading at 8838 down 57 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices but are also trading sharply lower. The market breadth indicating the overall health of the market is weak. The Indian rupee gained in the early trade. It has opened higher by 13 paise at 62.21 per dollar versus 62.34 Wednesday.
At 9:35 AM, the S&P BSE Sensex was trading at 29265 down 197 points, while NSE Nifty was trading at 8838 down 57 points. The Mid-cap and Small-cap Index, both, is out-performing the broader indices but are also trading sharply lower. The market breadth indicating the overall health of the market is weak. The Indian rupee gained in the early trade. It has opened higher by 13 paise at 62.21 per dollar versus 62.34 Wednesday.
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