Stock market opening bell: Sensex, Nifty open flat amid mixed global cues in early trade
India TV NewsStock market on January 8: Equity benchmark indices opened flat in early trade on Wednesday amid mixed global cues. Global factors, including higher benchmark Treasury yields, unexpectedly strong US services sector activity in December, and a surge in new job openings despite slower hiring, have contributed to reduced expectations of Federal Reserve rate cuts. Rupee against dollar The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country's economic growth projection. According to analysts, subdued domestic equity markets also weighed on the Indian currency even as better growth prospect in the US economy fuelled the expectations of delayed interest rate cut by the Federal Reserve, leading to a record rise in the US Treasury yields as well as dollar demand.