Benchmark indices started off the day on a flat note Tuesday as investors awaited third quarter GDP data due later today. The 30-share BSE Sensex was up 1.32 points at 28814.20 and the 50-share NSE Nifty rose 0.05 points to 8896.75. Cipla, ONGC, Tata Motors, GAIL, NTPC, Tech Mahindra, Bharti Infratel, Aurobindo Pharma and Grasim were early gainers while ITC, Bajaj Auto, Infosys, Sun Pharma, Reliance Industries, BPCL and Hindalco were losers. The Indian rupee opened marginally lower at 66.74 per dollar today against previous close of 66.70. Bhaskar Panda of HDFC Bank says US pending home sales data for January was disappointing. The markets are also awaiting details of President Trump's tax related declarations. As a result, the dollar index has been below the 101 mark. The USD-INR pair is expected to trade within a range of 66.60-66.80/dollar, he feels. The dollar was slightly weaker against a basket of currencies as investors worried that a speech by US President Donald Trump would not provide many details on his economic agenda. Asia markets were mostly higher today, tracking US gains, as investors await a key speech from President Donald Trump. US stocks ended slightly higher on Monday and the Dow closed at a record high for a 12th straight session, as President Donald Trump said he would make a "big" infrastructure statement on Tuesday.
Telecom operator Idea Cellular shares fell 6.5 percent in early trade after one of its non-promoter shareholder exited the company by selling entire shareholding. About 12 crore equity shares worth Rs 1,331 crore traded on BSE & NSE at Rs 110.30-110.45 apiece via block deals. With this block deal, Providence exited Idea by selling its 3.3 percent stake.
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