Sensex Opens Steady; Global Cues Quiet Following US Fed Statement

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, January 28, 2016, 9:31 [IST]

Benchmark indices opened the day marginally lower in early morning trade, even though global cues were quiet, following a dovish statement by the US Fed Reserve, after the conclusion of its 2-day meet.

US markets closed sharply lower spooked by US Fed statement on the economy. However, this did not seem have to have too much of an effect on stocks across Asia, which were up for the second day in a row.

The Sensex was trading with losses of 12 points, while the Nifty was down 4 points in early trade. HDFC was seeing some early losses from the Nifty space, following results that did not match expectations.

IDFC Bank on the other hand surged 2 per cent, after the company's results beat street estimates. Banking stocks were slightly weak in early trade with State Bank of India, Federal Bank and PNB among the early losers.

Shares in ICICI Bank were trading with gains ahead of its results to be declared later today. Among non index stocks Just dial lost ground by almost 5 per cent, following its results declared on Wednesday.

Midcap stocks were slightly weak with Havells, Union Bank and Oriental Bank among the top losers from the space.

Meanwhile, the rupee opened weak at 68.16 to the dollar.

GoodReturns.in