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Sensex sheds 200 pts, midcap slips 3%; Bharti, ITC shine

Sep 16, 2014, 02.12 PM IST | Source: Moneycontrol.com

Bharti Airtel and Dr Reddy’s Labs bucked the trend, up over a percent followed by ITC, Infosys, TCS, Sun Pharma and Hero Motocorp with 0.3-0.6 percent.

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Sensex sheds 200 pts, midcap slips 3%; Bharti, ITC shine

Bharti Airtel and Dr Reddy’s Labs bucked the trend, up over a percent followed by ITC, Infosys, TCS, Sun Pharma and Hero Motocorp with 0.3-0.6 percent.

14:12

The News International Team
Live Market Commentary

Sensex sheds 200 pts, midcap slips 3%; Bharti, ITC shine

Equity benchmarks extended losses ahead of FOMC two-day meet that will begin today. Investors will closely watch the outcome of this meeting as they expect some hint about interest rate hike.

The Sensex dropped 207.66 points to 26608.90 and the Nifty fell 73.25 points to 7968.75 while the BSE Midcap tumbled close to 3 percent and Smallcap plunged 3.2 percent.

About three shares declined for every share advancing on the Bombay Stock Exchange.

Despite the slip in the Nifty and the Sensex, Mehraboon Irani of Nirmal Bang Securities does not think it is going to be a deep correction.

He with the US Federal Reserve meet round the corner, markets tend to become volatile. But he does not see the Fed hiking rates anytime soon. “It is going to be many quarters away according to me,” he told CNBC-TV18.

He believes the next positive triggers for the market will be the state elections, divestment dues and the gas price hike.

Bharti Airtel and Dr Reddy’s Labs bucked the trend, up over a percent followed by ITC, Infosys, TCS, Sun Pharma and Hero Motocorp with 0.3-0.6 percent.

13:00

Nifty slips below 8000; banks, oil, auto stocks drag

Oil, bank and auto stocks are dragging the indices. Axis Bank, ONGC, SBI, Tata Motors and Coal India are major laggards in the Sensex.

Read More »

12:00

Nifty holds 8000 amid pressure; midcap, smallcap outperformRead More »

The BSE Midcap and Smallcap indices gained 0.2 percent and 0.6 percent, respectively. Advancers beat decliners on the Bombay Stock Exchange by a ratio of 1470 to 1163.

Read More »

11:00

Sensex, Nifty consolidate; oil stocks weak, pharma steadyRead More »

Oil & gas stocks are taking a toll on the benchark indices. The index is down 0.8 percent. ONGC, Axis Bank, Tata Motors, Sesa Strelite and Coal India are major laggards while Dr Reddy’s Labs, Sun Pharma, Bharti Airtel, Wipro and Bajaj Auto are top gainers in the Sensex.

Read More »

10:00

Nifty hangs below 8050; SBI, Wipro, Hindalco gain 1%Read More »

ONGC, Tata Motors, HDFC, Axis Bank and Sesa Sterlite are major laggards in the Sensex. Among the gainers are Sun Pharma, Dr Reddy’s Labs, Hindalco, Wipro and SBI.

Read More »

09:15

Sensex, Nifty flat; Tata Motors slips, Wipro gains strengthRead More »

Shares of BHEL, Wipro, Sun Pharma, Dr Reddy’s Labs, Larsen and Toubro, NMDC, Bank of Baroda and DLF gained 0.4-1 percent while Tata Motors, Sesa Sterlite, Coal India, Hindalco, HUL, IndusInd Bank, ACC and Tata Steel fell 0.5-1 percent.

Read More »

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