 "Markets open marginally lower; Rupee, FOMC meet key")
Markets have started the trading on a marginally lower note tracking weak Asian cues along with index heavyweights and financial shares leading the fall.
By 9:30, the Sensex was lower by 37 points at 19,186 whereas the Nifty dipped by 11 points at 5,802 mark.
According to technical experts, Nifty has multiple resistances around 5,870 and 5,915-odd levels. On the downside, near support for the benchmark index remains around 5,740-level. Today, the Nifty is likely to seek support around 5,790-5,775, while face resistance around 5,835-5,850.
Japanese stocks started trade on Wednesday with a spring in their step thanks to a positive lead from Wall Street and a softer yen, but the rest of Asia was restrained as investors waited for clarity on the Federal Reserve's next policy step.
Major currencies were subdued as well ahead of the outcome of the Fed's policy meeting due at 1800 GMT and Chairman Ben Bernanke's media briefing half an hour later.
Back home, the rupee recovered by 15 paise to 58.62 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.
BSE Oil & Gas, Auto, Consumer Durable, PSU, Capital Goods and IT indices are down 0.3-0.4%. BSE Metal index is marginally positive.
The main losers on the Sensex at this hour include ONGC, Tata Motors, NTPC, ICICI Bank, Infosys, Maruti Suzuki, TCS, L&T and Coal India.
Brokerage firm CLSA, which had created a flutter in the market last year by writing an open letter to Infosys’ chief executive officer (CEO) to convey investors’ “frustration” with the company, has now exuded optimism on the “new found direction” with N R Narayana Murthy at the helm.
On the gaining side, JSPL, Bharti Airtel, Hero Moto, BHEL and Sterlite have gained by 1% each.
IDFC is trading higher 3% at Rs 147 after the board of non-banking finance company has approved a proposal to seek licence from the Reserve Bank of India (RBI) for setting up a bank.
The market breadth in BSE remains positive with 461 shares advancing and 295 shares declining.
By 9:30, the Sensex was lower by 37 points at 19,186 whereas the Nifty dipped by 11 points at 5,802 mark.
According to technical experts, Nifty has multiple resistances around 5,870 and 5,915-odd levels. On the downside, near support for the benchmark index remains around 5,740-level. Today, the Nifty is likely to seek support around 5,790-5,775, while face resistance around 5,835-5,850.
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US stocks extended gains on Tuesday on expectations that the Fed would tone down its stance which suggested that it would reduce its monetary stimulus measures sooner-than-expected. The Dow Jones, S&P 500 and Nasdaq ended up over 0.8 per cent each.
Japanese stocks started trade on Wednesday with a spring in their step thanks to a positive lead from Wall Street and a softer yen, but the rest of Asia was restrained as investors waited for clarity on the Federal Reserve's next policy step.
Major currencies were subdued as well ahead of the outcome of the Fed's policy meeting due at 1800 GMT and Chairman Ben Bernanke's media briefing half an hour later.
Back home, the rupee recovered by 15 paise to 58.62 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the US currency by exporters.
BSE Oil & Gas, Auto, Consumer Durable, PSU, Capital Goods and IT indices are down 0.3-0.4%. BSE Metal index is marginally positive.
The main losers on the Sensex at this hour include ONGC, Tata Motors, NTPC, ICICI Bank, Infosys, Maruti Suzuki, TCS, L&T and Coal India.
Brokerage firm CLSA, which had created a flutter in the market last year by writing an open letter to Infosys’ chief executive officer (CEO) to convey investors’ “frustration” with the company, has now exuded optimism on the “new found direction” with N R Narayana Murthy at the helm.
On the gaining side, JSPL, Bharti Airtel, Hero Moto, BHEL and Sterlite have gained by 1% each.
IDFC is trading higher 3% at Rs 147 after the board of non-banking finance company has approved a proposal to seek licence from the Reserve Bank of India (RBI) for setting up a bank.
The market breadth in BSE remains positive with 461 shares advancing and 295 shares declining.