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Sensex, Nifty rangebound; IT supports, metals weak

Sep 17, 2014, 01.19 PM IST | Source: Moneycontrol.com

IT stocks are lending support to the indices with TCS, Infosys and Wipro gaining 1-2 percent each. Other gainers in the Sensex are Hero and M&M. Metals are weak while Sesa Sterlite, GAIL, Cipla, Coal India and Hindalco are major laggards in the Sensex.

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Sensex, Nifty rangebound; IT supports, metals weak

IT stocks are lending support to the indices with TCS, Infosys and Wipro gaining 1-2 percent each. Other gainers in the Sensex are Hero and M&M. Metals are weak while Sesa Sterlite, GAIL, Cipla, Coal India and Hindalco are major laggards in the Sensex.

13:00

The News International Team

The market is consolidating as the Sensex is up 87.37 points at 26579.88 and the Nifty is up 28.35 points at 7961.25. About 1097 shares have advanced, 1683 shares declined and 86 shares are unchanged.

IT stocks are lending support to the indices with TCS, Infosys and Wipro gaining 1-2 percent each. Other gainers in the Sensex are Hero and M&M. Metals are weak while Sesa Sterlite, GAIL, Cipla, Coal India and Hindalco are major laggards in the Sensex.

In the global market front, the US Federal Reserve could offer fresh clues on when it plans to begin lifting interest rates and how quickly it will move, as it prepares for a momentous policy turn after years of aggressive monetary stimulus.

Although a tightening of monetary policy is not expected until mid-2015, the central bank could use a policy statement on Wednesday to lay important groundwork. In particular, speculation is rife the policy-setting Federal Open Market Committee may change its guidance on how long it is likely to keep rates near zero. The panel may also alter its depiction of the labor market to suggest further progress toward its goal of full employment.

Both would signal that a six-year freeze on rates is thawing. Although the market is betting on a policy change, the Fed could also stick to its script.

12:00

Sensex, Nifty, Midcap consolidate; market breadth negative

Wipro, Infosys, Hero Motocorp, Dr Reddy’s Labs, Tata Power and NMDC topped the buying list, rising 1.5-2 percent whereas Coal India, Cipla, Sesa Sterlite, Gail, ONGC, Jindal Steel and BPCL lost 1-5 percent.

Read More »

11:00

Nifty races towards 8000; Sensex firm; Wipro, Biocon gainsRead More »

Wipro, Infosys, Tata Power, M&M and TCS are major gainers in the Sensex. Among the laggards are GAIL, Cipla, Sesa Sterlite, Tata Motors and Hindalco.

Read More »

10:00

Nifty above 7950; Sun Pharma, Tata Steel, Hindalco leadRead More »

Sun Pharma, Tata Steel, Hindalco Industries, Coal India and Tata Power topped the buying list, up 1-1.6 percent followed by ITC, Reliance Industries, Infosys, TCS, ICICI Bank, HDFC and State Bank of India with 0.4-0.9 percent.

Read More »

09:16

Sensex gains over 100pts, Nifty firm on global cuesRead More »

Tata Power, Hindalco, L&T, Tata Steel and Wipro are top gainers in the Sensex.

Read More »

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