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Nifty holds 7800 amid pressure; Infosys, TCS, Hero shine

Infosys, TCS and Hero Motocorp outperformed, up over a percent. State Bank of India, Axis Bank, Tata Steel and Hindalco Industries traded with marginal gains.

10:00

The News International Team

The 50-share NSE Nifty managed to claw back above the 7800 level amid selling pressure, down 40.70 points or 0.52 percent at 7819.25 while the 30-share BSE Sensex declined 154.95 points or 0.59 percent to 26142.43.

The broader markets slipped too with the BSE Midcap and Smallcap indices falling 0.6 percent and 0.25 percent, respectively. About 787 shares have advanced, 1009 shares declined, and 56 shares are unchanged on the Bombay Stock Exchange.

Sandip Sabharwal of asksandipsabharwal.com is not surprised by the recent fall in the Indian market. He says the dollar rally was indicative of pullout of risks.

Markets across the globe, developed markets included, always resist the fall initially and then give up, he adds. In this context, it is very difficult for a country like India to move up in the face of a troubled macro-economic situation.

Wipro extended losses, down 2.5 percent followed by Cipla with 2 percent decline. ITC, Reliance Industries, HDFC Bank, ICICI Bank, Larsen and Toubro, Mahindra and Mahindra, ONGC, Bharti Airtel, Dr Reddy’s Labs and NTPC lost 1-1.7 percent.

However, Infosys, TCS and Hero Motocorp outperformed, up over a percent. State Bank of India, Axis Bank, Tata Steel and Hindalco Industries traded with marginal gains.

09:15

Nifty breaks 7800, Sensex falls 180 pts; Tata Motors drops

Bharti Airtel, Sesa Sterlite, Hindalco Industries, BHEL, Larsen and Toubro, DLF and Jindal Steel lost 1.5-2 percent. However, Infosys gained further, up over a percent followed by Reliance Industries, Sun Pharma, Hero Motocorp, BPCL, IndusInd Bank and Lupin with marginal gain.

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