BSE Sensex, Nifty flat; Infosys falls 1%, banks weak

Written By Unknown on Senin, 23 Desember 2013 | 10.54

09:19

Moneycontrol Bureau
Live Market Commentary
The market has opened on a flat note. The Sensex is up 7.15 points at 21086.87, and the Nifty down 3.30 points at 6270.95. About 293 shares have advanced, 93 shares declined, and 16 shares are unchanged.

Top management exodus at Infosys continues as V Balakrishnan, director, resigned to start his own private equity firm. This is the eight top level exit at Infosys since June. Balakrishnan told CNBC-TV18 that his exit has nothing to do with Narayana Murthy's return.

Indian rupee opened at 62.07 against the US dollar on Monday, down 3 paise compared to Friday's closing value of 62.04 per dollar. The dollar index held above the 80.50 mark. Meanwhile the dollar-yen continued to trade around 104 level.

In commodities, Brent Crude prices rise with Nymex following suit, supported by refinery outages in the United States that will boost the need for gasoline imports linked to the global benchmark, and on reduced Libyan supply.

And from the precious metals space, gold ticked up on Monday after its biggest weekly loss in a month, but the metal was still at the risk of falling back below USD 1,200 an ounce as investors fretted over the impact of a US stimulus tapering.

The US gross domestic product (GDP) for Q3 came in better-than-expected propelling the markets higher and the Dow and S&P 500 closed at record highs. The US markets notched up 2-3 percent gains for the week. European markets too record their best week in eight months and Asian markets opened modestly higher in early trade.



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