The market has opened lower dragged by weak global cues.
The Sensex is down 162.69 points or 0.6 percent at 26563.65, and the Nifty down
51.40 points or 0.6 percent at 8155.20. About 410 shares have advanced, 454
shares declined, and 30 shares are unchanged. For more market update visit www.marketmagnify.com/stock-cash-power.php & give Missed Call 78-79-88-11-22.
Lupin, M&M and NTPC are top gainers
while ICICI Bank, Maruti, HDFC, SBI, Tata Motors and Wipro are losers in the
Sensex.
In a definitive push for
consolidation in the banking sector, the Union Cabinet on Wednesday gave a
go-ahead to the merger of State Bank of India (SBI) with its five associate
lenders and Bharatiya Mahila Bank.
The rupee
opened marginally higher at 67.12 per dollar on Thursday versus previous close
of 67.15. Dollar added to losses after the Federal Reserve left interest rates
unchanged, as was widely expected.
The statement comes after Tamil Nadu Chief
Minister and AIADMK chief Jayalalithaa met PM Narendra Modi and urged Centre to
address the state's grievances over issues related to the implementation of
GST. Jaya had said that the GST, in its proposed format, would affect the
autonomy of the state government.
A
serious risk to global markets has emerged in the form of the British
referendum slated for next week, says Arvind Sanger of New York-based Geosphere
Capital.
The US Federal Reserve yesterday left the
funds rate unchanged at 0.25-0.50 percent and six of Fed officials see only one
rate increase in 2016, up from 1 in March.
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