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Sensex, Nifty off day’s high; SBI, Axis Bank, LT gainers

Gail, M&M, Hero MotoCorp, Maruti Suzuki and BHEL are among laggards in the Sensex. Among the gainers are Sesa Sterlite, Dr Reddy’s Labs, SBI, Axis Bank and L&T.

11:17

The News International Team

The market is off the day’s high but still steady. Nifty trades comfortably above 8300 consolidating last week’s gains. The Nifty is down 19.65 points at 8302.55 and the Sensex is down 56.58 points at 27809.25. About 1419 shares have advanced, 929 shares declined, and 95 shares are unchanged.

Gail, M&M, Hero MotoCorp, Maruti Suzuki and BHEL are among laggards in the Sensex. Among the gainers are Sesa Sterlite, Dr Reddy’s Labs, SBI, Axis Bank and L&T.

Indian factory activity expanded at a modest pace in October, as stronger demand led manufacturers to add jobs for the first time in four months and allowed them to raise prices, a business survey.

The HSBC Manufacturing Purchasing Managers’ Index (PMI), compiled by Markit, rose to 51.6 in October from 51.0 in September. The index has now been above the 50 level that indicates an expansion in activity for a year.

“Manufacturing activity picked up modestly amid stronger output and new order flows, particularly from overseas clients,” said Frederic Neumann, co-head of Asian economic research at HSBC.

Globally Asian markets trade mixed in quiet trade as the Nikkei is shut today. Chinese HSBC final PMI rose to a three month high of 50.4. Currencies continue to demand attention with the euro at the lowest in over two years. Rupee declines against the dollar today.

 

10:00

Sensex, Nifty consolidate; metals & IT gain, Gail falls

Technology stocks like Infosys, TCS and Wipro climbed 0.4-1.2 percent while metals stocks namely Sesa Sterlite, Hindalco Industries and Tata Steel jumped 1-2 percent. Drug maker Dr Reddy’s Labs topped the buying list, up more than 2 percent.

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09:15

Sensex, Nifty open firm; Bharti & TCS gain, autos fallRead More »

TCS, Bharti Airtel, GAIL, Wipro and BHEL are top gainers while Tata Motors, Hero, Bajaj Auto, and M&M are major laggards in the Sensex.

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