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Nifty holds 8250; pharma FMCG gain, Brent below $49/bbl

14:00

The News International Team

02:15pm Can Fin in News

Can Fin Homes’ board of directors has approved issue price of Rs 450 apiece for its rights issue in the ratio of 3 shares for every 10 shares held.

The company will issue 61.45 lakh shares via rights issue.

The scrip of Can Fin fell 2.8 percent to Rs 639 on the BSE, after hitting a 52-week high of Rs 695 intraday.

02:00pm Market Check

The market remained lacklustre in afternoon trade. The Sensex fell 22.06 points to 27436.32 and the Nifty declined 1.50 points to 8283 while the BSE Midcap and Smallcap indices gained 0.6 percent and 0.8 percent, respectively.

The market breadth was positive as about 1586 shares have advanced against 1159 shares declined on the Bombay Stock Exchange.

Oil & gas, metals and auto stocks were under pressure while FMCG, capital goods and healthcare stocks gained strength.

Coal India topped the selling list on Sensex, down 5 percent on disinvestment buzz. Reliance Industries, Bharti Airtel, Hero Motocorp, Bajaj Auto and Hindalco Industries declined 2-2.5 percent while HUL was the biggest gainer, up 3.6 percent followed by Infosys, Axis Bank, L&T, SBI and Dr Reddy’s Labs with 0.9-1.5 percent.

Globally, European markets were marginally in green in early trade while Asian markets closed mixed with the Shanghai falling 1.7 percent. Brent crude slipped below the 49-mark, down 2.8 percent to USD 48.71 a barrel while US crude was down 2.38 percent to USD 47.21 a barrel.

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