BSE Sensex, Nifty open flat; rupee grows weak

Written By Unknown on Selasa, 18 Juni 2013 | 10.54

09:19

Moneycontrol Bureau
Live Market Commentary

9:20 am Gainers: Bharti Airtel (up 1.54 percent), M&M, Infosys, Wipro and L&T are among the key gainers in Sensex.

Check out what Udayan Mukherjee says: Global markets factoring in Fed's dovish stance

After making some smart moves on Monday, the market makes a quiet opening today. The Sensex is up 8.20 points at 19334.07, and the Nifty  is down 8.15 points to be at 5841.90. About 156 shares have advanced, 104 shares declined, and 32 shares are unchanged. 

Share buybacks are set to get tougher -- Sebi board is likely to consider stricter buyback rules, learns CNBC-TV18.  It may include halving the buyback period to six months, keeping a portion of the funds in escrow, and a one-year cooling-off period between buybacks.

The rupee opened lower by 39 paise at 58.25 per dollar versus 57.86 yesterday. The euro stayed above 1.33 to the dollar. The dollar index was sub 81 mark. However, the yen slipped slightly against the dollar.

On the global front, US markets recovered from their lows to close higher on Monday following positive economic data and as investors await clarity on Fed's bond purchase programme. European markets also ended higher.

The Fed is also expected to provide an update on its economic projections for 2013-2015. The Fed's latest projections, made in March this year, saw real GDP growth at around 2.6 percent in 2013 and 3.2 percent in 2014. In terms of unemployment, the Fed projected a rate of around 7.4 percent in 2013, improving to around 6.9 percent in 2014.

In key data to watch out for in US, consumer price index is seen rising to 0.2 percent in May. Housing starts are seen at 0.955 million units.

Brent crude price stood around USD 105 a barrel after touching a 10-week high close to USD 107 a barrel. From precious metals space, gold price remained largely unchanged at USD 1384 an ounce.



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