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The market has opened sharply lower following correction in global peers and crude oil prices.
- Sensex fell 254.69 points to 24284.31.
- Nifty declined 82.80 points to 7372.75.
- ICICI Bank, Tata Motors, Tata Steel, BHEL, ONGC, Cairn India, Vedanta, Idea Cellular and Bank of Baroda were down 2-2.5 percent while HUL gained over a percent.
- The Indian rupee slipped below 68 a dollar mark in the early trade today. It has opened lower by 21 paise at 68.19 per dollar against previous close of 67.98.
Asian markets also saw selling off. Yen strengthened to sub 120 levels leading to nearly four percent cuts in export companies like Toyota, Honda and Nissan. In Europe, markets tumbled over the oil prices. In earnings, oil major BP reported an annual loss of USD 6.5 billion in 2015, its worst in 20 years amid volatility in oil prices. The company’s shares closed down 8.7 percent.