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Nifty hovers around 8050; SBI, Hero, Dr Reddy steady

Sep 15, 2014, 01.29 PM IST | Source: Moneycontrol.com

Hindalco, Tata Steel, HDFC, Wipro and GAIL are top laggards while Cipla, Hero, HDFC Bank, Dr Reddy’s Labs and SBI are major gainers in the Sensex.

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Nifty hovers around 8050; SBI, Hero, Dr Reddy steady

Hindalco, Tata Steel, HDFC, Wipro and GAIL are top laggards while Cipla, Hero, HDFC Bank, Dr Reddy’s Labs and SBI are major gainers in the Sensex.

13:29

The News International Team

The market fails to take cues from positive WPI data as August data comes in at a 5-year low at 3.74 percent august fuel inflation also comes in at a 5-year low at 4.54 percent.

The Sensex is down 197.57 points or 0.7 percent at 26863.47 and the Nifty slips 53.25 points or 0.66 percent at 8052.25. About 1621 shares have advanced, 1200 shares declined, and 99 shares are unchanged.

Hindalco, Tata Steel, HDFC, Wipro and GAIL are top laggards while Cipla, Hero, HDFC Bank, Dr Reddy’s Labs and SBI are major gainers in the Sensex.

RBI Governor Raghuram Rajan roots for market prices of fuel. He says government must use current juncture to eliminate fuel subsidies. The RBI governor also says IIP data shows that recovery is evident and inflation is on the RBI’s trajectory.

Crude oil futures fell by 1.82 percent to Rs 5,569 per barrel today as speculators trimmed
positions amid a weakening trend in Asian trade after a sharp slowdown in Chinese industrial production.

The trading sentiment eased at futures trade after crude oil prices fell in Asian trade today after a sharp slowdown in Chinese industrial production raised concerns about slackening demand in the world’s top energy consumer, analysts said.

12:00

Sensex stays under pressure despite steep fall in inflation

WPI inflation in August dropped to 3.74 percent, the lowest level in last five years, from 5.19 percent in previous month driven by food and fuel.

Read More »

11:13

Sensex, Nifty struggle; Brent near 2-yr low, metals meltRead More »

Brent crude is seeing further softening to 26-month lows. Globally, disappointing Chinese data weighs on Asian markets. Traders are also cautious ahead of the FOMC policy decision.

Read More »

10:00

Nifty breaks 8050; Gail, Hindalco, Tata Steel decline 2-3%Read More »

HDFC Bank bucked the trend, up over 1 percent as Managing Director Aditya Puri is affirmative that the growth will get back to 25 percent and even 30 percent growth when the economy gets back to 6-7 percent growth, which he expects by FY16.

Read More »

09:15

Sensex slips over 200 pts; Cipla gains 3%, HDFC weakRead More »

GAIL, ONGC, Sesa Sterlite, SBI, Reliance fall around 1 percent. Cipla, Bajaj Auto, TCS, Wipro and Dr Reddy’s Labs are top gainers in the Sensex.

Read More »

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