The stock market was moved down by ICICI Bank, HDFC Bank and Axis Bank, which fell 1.50 percent, 1.91 percent and 2.39 percent respectively in early trade. These three have significant weightage on Nifty.

At 09.52 hrs IST, the Sensex is down 118.06 points or 0.61% at 19244.49, and the Nifty down 38.70 points or 0.66% at 5812.50. Other losers on the indices are Bharti Airtel, GAIL, Tata Motors, HDFC Bank, Hindalco, GAIL and Bajaj Auto.

GLOBAL MARKETS ROUNDUP

The dollar hovered near a seven-month high against a basket of  currencies on Thursday as strong U.S. retail sales data sustained an optimistic growth outlook, while Asian shares steadied after another record Wall Street close.

The U.S. dollar hovered at seven-month highs against a basket of currencies on Thursday as investors warmed to the  greenback following bullish economic data, while dovish comments from New Zealand’s central bank sent the kiwi dollar packing.

Brent crude fell on Wednesday on a larger-than-expected increase in U.S. crude inventories, a firming dollar, and a forecast from the International Energy Agency that oil demand will shrink.

U.S. Treasury debt prices slipped on Wednesday on news of stronger-than-expected retail sales in February, but nearly all the day’s losses were erased after the Treasury’s sale of 10-year notes drew strong demand.

    LOCAL MARKETS PREVIOUS CLOSE

•    BSE index 19,362.55 (-1.03 pct)
•    NSE index 5,851.20 (-1.06 pct)
•    Rupee 54.30/31 per dollar (54.1750/1850)
•    10-year bond yield 7.90 pct (7.89 pct)
•    5-year OIS rate 7.22 pct (7.22 pct)
•    1-year OIS rate 7.58 pct (7.58 pct)
•    Call money 7.80/7.90 pct (7.75/7.85 pct)