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Nifty slips below 8850, Sensex in red; ICICI Bank, ITC drag

Tata Steel, Infosys, BHEL, Maruti and Hindalo are top gainers in the Sensex. Among the losers are ICICI Bank, Tata Power, Axis Bank and ITC.

11:00

The News International Team

The market is quickly giving away gains after hitting 8900-mark. The 50-share index is down at 8815, down 53.35 points or 0.6 percent while the Sensex is down 138.26 points or 0.5 percent at 29182.

Tata Steel, Infosys, BHEL, Maruti and Hindalo are top gainers in the Sensex. Among the losers are ICICI Bank, Tata Power, Axis Bank and ITC.

Global cues are supportive with the Nikkei trading at 15-year high reacting to export data and dovish Fed minutes. However major markets such as China, Hong Kong and Singapore are shut. Crude oil futures fell by Rs 96 to Rs 3,217 per barrel today as speculators reduced positions amid a weakening trend in Asian trade ahead of US stockpile report. 

The trading sentiment dampened at futures trade after crude oil prices retreated in Asian trade today ahead of the release of a closely watched report that is forecast to show a surge in US stockpiles to 33-year high, adding to a global supply glut, analysts said.

10:00

Sensex, Nifty erase early gains; Reliance, ICICI Bank drag

ICICI Bank and Reliance Industries dragged the market, down 1 percent each. Tata Power, State Bank of India, Axis Bank, ITC, Bajaj Auto, NTPC and Wipro were down 0.6-1 percent.

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09:15

Nifty inches towards 8900, Sensex up; Cipla, Hero gainRead More »

Cipla, Tata Power, M&M, Bharti Airtel and Axis Bank are top gainers in the Sensex.

Read More »

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