homemarket NewsMarket opens flat as oil, currency concerns loom; SBI loses nearly a percent ahead of earnings

Market opens flat as oil, currency concerns loom; SBI loses nearly a percent ahead of earnings

Market opens flat as oil, currency concerns loom; SBI loses nearly a percent ahead of earnings
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By CNBC-TV18 May 22, 2018 1:15:42 PM IST (Updated)

The market on Tuesday opened flat as the oil and rupee concerns kept the market in check despite strong global cues.

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The BSE Sensex opened at 34,601 points, while the NSE Nifty at 10,518 points.
Dr Reddy's Labs is the current top index gainer, gaining nearly 2%, ahead of declaring its quarterly earnings today.
State Bank of India (SBI), however, is losing by nearly a percent ahead of its earnings.
Bajaj Auto has risen in trade after Nomura upgraded its rating on the stock. The company, despite posting quarterly results which beat estimates, lost in trade as it did not post a guidance for the financial year due to uncertainty.
The other major indices, the Nifty Bank opened with 29-point gain while the Nifty Midcap opened with 3-point dip.
On the earnings front, SBI, IOC, Cipla, Bosch, Dr Reddy's Labs, Bata India, among others will declare their quarterly earnings.
The Indian market fell for the fifth session in a row on Monday due to the outcome of the Karnataka elections and rising fuel prices.
The BSE Sensex slipped 232 points to 34,616 while the NSE Nifty fell 80 points to 10,517 on Monday. A fall in the midcap space across the board also kept market breadth in favour of declines.
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