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The market has opened flat with subdued global cues. The Sensex is up 12.99 points at 28016.11 and the Nifty is up 2.20 points at 8638.75.Sun Pharma, Maruti, Lupin, SBI and L&T are top gainers while ICICI Bank, HDFC, Infosys, Wipro and Hero are among losers in the Sensex. The Indian rupee opened marginally lower at 66.78 per dollar versus previous close 66.74.
The dollar maintained gains against the yen. The dollar, however, did pare some gains after data showed that the US economy's manufacturing sector in July expanded at a slower pace than in the previous month.
Crude oil has fallen more than 20 percent from a peak reached in June, with Saudi Arabia cutting crude prices to Asia and further increases in US drilling rigs sparking Monday’s 3.7 percent tumble. Gold prices hold steady around USD 1350 an ounce.
Other precious metals fared better on improved investor sentiment, with spot palladium hitting a 13-month high spot silver touching a 3-week high.
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