Tuesday, 9 September 2014

Markets open negative ahead of SC verdict on coal block

have started the trading session on a marginally lower note ahead of ahead of the Supreme Court's decision on allocations later today.

The has opened lower by 41 points at 27,279 mark and the dipped by 14 points at 8,160 levels.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1162.98 crore on Monday, as per provisional data from the stock exchanges.

On the global front, the U.S. was holding broad-based gains in Asia on Tuesday in a boon for shares of Japanese exporters but a burden for oil, gold and stocks in the energy majors.

As the dollar finally broke to a six-year peak on the yen and a one-year top on the euro, Brent oil sank to 16-month lows while gold carved out a three-month trough.

A falling yen tends to be viewed as positive for Japanese exporters and corporate profits, and helped lift the Topix 0.2 percent to 1,301. That was within a whisker of this year's peak at 1,308.08 and a break there would put it on ground last trod in July 2008.

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