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Sensex, Nifty consolidate; Reliance, Tata Steel laggards

Metals and banks are pressured while infra and IT stocks gain.BHEL, Sun Pharma, HUL, Cipla and NTPC are top gainers in the Sensex. Among the losers are Reliance, Sesa Sterlite, Tata Steel, Hindalco and ONGC.

11:00

The News International Team

The market is extremely flat. The Sensex is down 11.90 points at 27383.83 and the Nifty is down 3.25 points at 8243.05. About 1171 shares have advanced, 1022 shares declined, and 93 shares are unchanged.

Metals and banks are pressured while infra and IT stocks gain.BHEL, Sun Pharma, HUL, Cipla and NTPC are top gainers in the Sensex. Among the losers are Reliance, Sesa Sterlite, Tata Steel, Hindalco and ONGC.

The government has approved ordinance to amend the Land Acquisition Act. Sectors such as power and housing benefit. Goldman Sachs says L&T to gain as execution of PPP projects picks up pace and power grid will find it easier to get right of way.

The rupee slips to a fresh two-week low as the dollar gains on Greece concerns and month end dollar demand. Bonds are at 2-week highs. 

Globally, Asian shares are lower as lower oil prices & Greece uncertainty weigh.

10:00

Nifty hovers around 8250; IT & pharma gain, metals down

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.5 percent each. About 1018 shares have advanced, 686 shares declined, and 57 shares are unchanged on the Bombay Stock Exchange.

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09:14

Sensex, Nifty flat; HUL, L&T, ICICI Bank early gainersRead More »

HUL, L&T, Tata Motors, Hindalco and ICICI Bank are top gainers in the Sensex. GAIL, Hero, HDFC Bank, Wipro and ONGC are among the laggards.

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