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Sensex ends below 28000; OMCs fall, IT pharma outperform

Nov 13, 2014, 04.52 PM IST | Source: Moneycontrol.com

Infosys, Dr Reddy’s Labs, Bharti Airtel, Wipro and Bajaj Auto were top gainers while Tata Power, Sesa Sterlite, ONGC, GAIL and Hero MotoCorp were among the losers in the Sensex. OMCs tumbled after the government hiked excise duty on petrol and diesel.

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Sensex ends below 28000; OMCs fall, IT & pharma outperform

Infosys, Dr Reddy’s Labs, Bharti Airtel, Wipro and Bajaj Auto were top gainers while Tata Power, Sesa Sterlite, ONGC, GAIL and Hero MotoCorp were among the losers in the Sensex. OMCs tumbled after the government hiked excise duty on petrol and diesel.

16:52

The News International Team

Dalal Street ended the day flat with a negative bias. The market opened in the green but profit-booking crept in as the day wore on. The Sensex ended below 28000, down 68.26 points at 27940.64. The Nifty lost about 25 points after hitting the 8,400 mark for the second day in a row. The 50-share index closed at 8357.85.

Banking, oil & gas and real estate stocks lost the most. Technology and pharma stocks were  major gainers. Midcaps fared worse than the bluechips with the index losing nearly 80 points.

Infosys, Dr Reddy’s Labs, Bharti Airtel, Wipro and Bajaj Auto were top gainers while Tata Power, Sesa Sterlite, ONGC, GAIL and Hero MotoCorp were among the losers in the Sensex.

Oil marketing stocks tumbled after the government hiked excise duty on petrol and diesel. According to CNBC-TV18, the govt may gain Rs 6,000 crore from the excise hike in rest of this fiscal.

Gautam Chhaochharia, head – Research, UBS Securities thinks the Nifty may touch 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.

Global gold demand fell to its lowest in nearly five years in the third quarter as Chinese buying slid by a third, the World Gold Council, putting it back behind India as the world’s biggest gold consumer.

According to reports, the ministry and the Reserve Bank of India (RBI) are also discussing tightening limits on gold imports by trading houses. Brent crude traded around USD 80 a barrel, near its lowest since 2010, after OPEC said demand for its oil would fall next year, while Saudi Arabia remained silent about a possible cut in production.
 

14:11

Sensex ends 68 pts dwn; HPCL, BPCL slip 4-6% on excise hike

Infosys, BHEL, Wipro, Hindalco, Sun Pharma are top gainers in the Sensex. Among the losers are Tata Power, Axis Bank, ONGC, HDFC and GAIL.India’s liquidity is expected to go into its normal state of deficit from current surplus, says JP Morgan.

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13:00

Sensex, Nifty consolidate; BHEL, Cipla, Wipro top gainersRead More »

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

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12:00

IT, pharma up & SBI, HDFC fall 1%; Sensex, Nifty sluggishRead More »

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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11:09

Sensex, Nifty flat; banks & realty drag, midcaps in greenRead More »

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.

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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.

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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.

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