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Nifty races towards 7800; GAIL up 3%, Hero drags 3%

GAIL, Sesa Sterlite, Hindalco, ICICI Bank and Sun Pharma are top gainers in the Sensex. Among the losers are Hero Motocorp, HDFC, Bajaj Auto, Tata Steel and Wipro.

11:12

The News International Team

The market is maintaining its uptrend with Nifty inches towards 7800. The 50-share index is up 30.75 points at 7770.30. The Sensex is up 115.91 points at 26034.86. About 1129 shares have advanced, 1073 shares declined, and 98 shares are unchanged.

GAIL, Sesa Sterlite, Hindalco, ICICI Bank and Sun Pharma are top gainers in the Sensex. Among the losers are Hero Motocorp, HDFC, Bajaj Auto, Tata Steel and Wipro.

 Asian shares pushed higher after a flood of soft economic data led investors to wager on a ceaseless fountain of stimulus from major central banks, sending bond yields tumbling across the globe.

An economic contraction in Japan, a shock fall in Chinese loans, a surprisingly dovish turn by the Bank of England and a sluggish reading on US retail sales all combined to make any tightening in policy seem a very distant prospect. Indeed, investors suspect further easing is in the cards with data on euro zone growth and inflation later expected to pressure the European Central Bank for more action.

Yields on Germany’s two-year debt actually went negative, meaning investors were paying for the privilege of lending Berlin money.

10:00

Sensex hits 26000, Nifty above 7750; banks, IT, FMCG lead

Shares of HDFC Bank, ITC, ICICI Bank, TCS, Larsen and Toubro, Sun Pharma, Mahindra and Mahindra, Hindalco Industries, Sesa Sterlite and Gail India gained 1-1.7 percent followed by Infosys, Reliance Industries and Tata Motors with marginal gains.

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09:11

Sensex, Nifty flat; ONGC, Tata Steel fall 1% post Q1 resultRead More »

Sun Pharma, L&T, Tata Power, HDFC and ICICI Bank are top gainers in the Sensex. Among the losers are ONGC, Tata Steel, Sesa Sterlite, Bharti and ITC.

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