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IT, pharma up SBI, HDFC fall 1%; Sensex, Nifty sluggish

Nov 13, 2014, 12.19 PM IST | Source: Moneycontrol.com

Cipla, BHEL, Wipro, Sun Pharma and Infosys are top gainers while Axis Bank, HDFC, SBI, Dr Reddy’s Labs and GAIL are losers in the Sensex.

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IT, pharma up & SBI, HDFC fall 1%; Sensex, Nifty sluggish

Cipla, BHEL, Wipro, Sun Pharma and Infosys are top gainers while Axis Bank, HDFC, SBI, Dr Reddy’s Labs and GAIL are losers in the Sensex.

12:00

The News International Team

12:30 pm FII view: Gautam Chhaochharia, head-Research, UBS Securities remains bullish on the market with Nifty target of 9,600 by 2015-end. However, Chhaochharia said the growth recovery is still some time away and will increase mildly and gradually despite country’s consumer price inflation for October cooling off to 5.52 percent and increase in industrial activity for September to 2.5 percent. He expects a gross domestic growth of 5.5 percent and 5.8 percent for FY15 and FY16, respectively.

Speaking to CNBC-TV18, Chhaochharia said that the two-wheeler space is surprising positively. Maruti remains his top pick in auto space though he recommends avoiding two-wheeler companies.

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The market seems to be sluggish after hitting record highs consecutively last few days. The
Sensex is down 31.49 points at 27977.41 and the Nifty is down 13.50 points at 8369.80.
About 1284 shares have advanced, 1322 shares declined, and 109 shares are unchanged.

Cipla, BHEL, Wipro, Sun Pharma and Infosys are top gainers while Axis Bank, HDFC, SBI, Dr Reddy’s Labs and GAIL are losers in the Sensex.

IT, Pharma and consumer durable stocks are lending support to the market while oil & gas and banks are under selling pressure.

Gold was steady as investors awaited US data for possible cues, but sentiment remained fragile as optimism over an economic recovery and a strong dollar dented bullion’s appeal as a hedge.

More outflows from bullion-backed exchange-traded funds indicated that investors anticipate further price falls as the dollar stays close to a four-year peak.The metal has seen an intense sell-off since Oct. 31, sliding below the key technical level of USD 1,180 and then plumbing a 4.5-year low at USD1,131.85. It has since recovered modestly on short-covering.

11:09

Sensex, Nifty flat; banks & realty drag, midcaps in green

Banks and realty stocks are dragging the indices while both small and midcaps are still holding in the green. Cipla, Wipro, BHEL, Sun Pharma and Wipro are top gainers in the Sensex. Among the losers are Dr Reddy’s Labs, Bharti Airtel, Sesa Sterlite, HDFC and SBI.

Read More »

10:00

Sensex, Nifty fall marginally; Sun Pharma, Tata Steel gainRead More »

BHEL, Sun Pharma, Cipla, L&T and Tata Steel are top gainers in the Sensex. Among the losers are Dr Reddy’s Labs, HDFC twins, TCS and Tata Motors.

Read More »

09:15

Sensex, Nifty weak; BPCL falls 2%, Nalco gains 8%Read More »

Sesa Sterlite, M&M, Wipro, Hero MoroCorp and ONGC are top gainers in the Sensex. Among the losers are Dr Reddy’s Labs, Tata Steel, ITC and HUL. BPCL is down 2 percent. Among the midcaps, Nalco is up 8 percent.

Read More »

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