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Sensex, Nifty in red; ITC Infosys gain, Hindalco drags

Hindalco, NTPC, ONGC, Dr Reddy’s Labs and HDFC are among the losers in the Sensex. Gainers are Coal India, ITC, M&M, Infosys and Hero.

11:00

The News International Team

The market is sluggish with the Sensex down 46.48 points at 27459.98. The Nifty is down 13.35 points at 8253.65. About 1134 shares have advanced, 1037 shares declined, and 83 shares are unchanged.

Hindalco, NTPC, ONGC, Dr Reddy’s Labs and HDFC are among the losers in the Sensex. Gainers are Coal India, ITC, M&M, Infosys and Hero.

Meanwhile, Japanese stocks rallied and the dollar stood tall thanks to surprisingly robust US economic growth, helping investors head into the Christmas holidays in a more relaxed mood after the global markets turbulence of the past two weeks.

Risk appetite got a helping hand from revised data showing the US economy grew at a 5.0 percent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. The strong US GDP prompted markets to bring forward the timing of a likely hike in interest rates by the Federal Reserve, which last week gave an upbeat assessment of the world’s biggest economy.

The bullish outlook pushed Treasury yields up and gave an already strong dollar fresh momentum. The two-year US Treasury yield rose to a high not seen in almost four years in light of the Fed expectations.

10:00

Nifty consolidates on expiry; Guj Gas, Nirlon most active

Gujarat Gas, Nirlon, Wockhardt, Mastek, Reliance Capital, SBI, Infosys and Jaiprakash Associates were most active shares on exchanges.

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09:15

Sensex, Nifty flat; JP Associates gains 5%, UltraTech up 2%Read More »

The dollar hovered at its highest in nine years after stunningly strong US economic growth. The dollar index hit 90 for the first time in nine years, up more than 12 percent in 2014.

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