Sensex opens lower, Nifty breaks 8050; Banks drag
The Indian rupee continued its recovery on Thursday for the second consecutive session following correction in dollar. It has opened higher by 8 paise at 67.83 per dollar against previous close of 67.91.Equity benchmarks fell further in early trade with the Nifty breaking 8050 level, weighed by banks and weak Asian cues. The 30-share BSE Sensex was down 57.73 points at 26184.65 and the 50-share NSE Nifty declined 17.10 points to 8044.20. Sun Pharma gained more than 1 percent after the company acquired oncology product Odomzo from Novartis for global markets. It will make upfront payment of USD 175 million and additional milestone payments for the product.
HDFC, ITC, Maruti Suzuki, ICICI Bank, Axis Bank, ONGC and Asian Paints were down 0.5-1 percent while Tata Motors, TCS, Infosys, Wipro and Tata Steel gained. The Indian rupee continued its recovery on Thursday for the second consecutive session following correction in dollar. It has opened higher by 8 paise at 67.83 per dollar against previous close of 67.91.
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