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The market has opened flat. The Sensex is up 23.53 points at 27059.38 and the Nifty is down 6.95 points at 8170.45. About 431 shares have advanced, 142 shares declined, and 34 shares are unchanged. Vedanta, Cipla, ONGC, M&M and Lupin are top gainers while ICICI Bank, SBI, Coal India, HDFC and ITC are in red.
Analysts have attributed the rally in Indian markets to supportive global markets, renewed buying interest from foreign investors and strong momentum after the RBI's bigger-than-expected rate cut last month.
But markets are unlikely move significantly higher from current levels, says many analysts. Traders are likely to turn cautious ahead of the earnings season and 8200-8300 is a tough nut to crack for Nifty, says Sanjiv Bhasin of IIFL.
The market has opened flat. The Sensex is up 23.53 points at 27059.38 and the Nifty is down 6.95 points at 8170.45. About 431 shares have advanced, 142 shares declined, and 34 shares are unchanged. Vedanta, Cipla, ONGC, M&M and Lupin are top gainers while ICICI Bank, SBI, Coal India, HDFC and ITC are in red.
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