Sensex, Nifty kickstart 2015 in red; MM, Bharti gainers

M&M, Bharti, Airtel, BHEL and ICICI Bank are gainers while GAIL, Tata Motors, Sesa and Reliance are laggards.

09:14

Moneycontrol Bureau The market kickstarts 2015 in red. The Sensex is down 47.25 points at 27452.17 and the Nifty is down 9.90 points at 8272.80. About 295 shares have advanced, 210 shares declined, and 3302 shares are unchanged.

M&M, Bharti, Airtel, BHEL and ICICI Bank are gainers while GAIL, Tata Motors, Sesa and Reliance are laggards.

The Indian rupee opened lower by 14 paise at 63.17 per dollar against 63.03 Wednesday.

Indian rupee on Wednesday appreciated by 35 paise to end at two-week high of 63.03 against the greenback tracking firm equities and sustained dollar selling by exporters, but lost ground on an annual basis for the fourth year in a row.

The rupee depreciated by 123 paise or 1.99 percent, in calendar year 2014. It had closed at 61.80 against dollar in 2013.

US stocks fell on Wednesday as crude oil prices continued their descent, but the S&P closed out a third straight year of double-digit gains.

For the year, the Dow ended up 7.5 percent, notching its sixth straight annual gain, and the Nasdaq rose 13.4 percent. The best-performing S&P component in 2014 was Southwest Airlines Co up 124.6 percent, while Transocean Ltd, down 62.9 percent, was the worst.

Equities lost steam heading into the New Year after rallying nearly 6 percent over eight sessions, sparked by the US Federal Reserve's commitment to be "patient" about raising interest rates and positive economic data.

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