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The market has once again opened with sharp falls following weak China. The Nifty us below 7500 for first time since July 15, 2014. The 50-share index is at 7598, down 89 points or 1.15 percent while the Sense is down 326.29 points or 1.3 percent at 24608.04. Hindalco, Tata Steel, Tata Motors, L&T and Adani Ports are major laggards in the Sensex.

Indian markets are poised to open sharply lower amid weak Asian stocks. The Nifty futures on the Singapore index were trading 1 per cent lower at 7,521, indicating a weak opening for Sensex and Nifty.The rupee would be closely watched today. The Indian currency fell to 66.92/dollar against Friday's close of 66.63. The US reported strong job numbers for December, a development that could lead to a broad rise in dollar amid expectations of a Fed rate hike in March.