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Nifty struggles below 8700; Sesa, Reliance, Hero gainers

Tata Motors, Hindalco, M&M, HUL and HDFC are among the laggards while Sesa Sterlite, Hero MotoCorp, GAIL, Cipla and Reliance are top gainers in the Sensex.

10:00

The News International Team

The market is still under pressure as the Nifty is struggling below 8700. The 50-share index is down 31.50 points at 8691.80. The Sensex is down 105.94 points at 28630.44. About 889 shares have advanced, 852 shares declined, and 136 shares are unchanged.

Tata Motors, Hindalco, M&M, HUL and HDFC are among the laggards while Sesa Sterlite, Hero MotoCorp, GAIL, Cipla and Reliance are top gainers in the Sensex.

Meanwhile, concern over a US interest rate hike kept sentiment in check at some of Asia’s biggest firms, as optimism about the outlook for business over the next six months was near steady in the first quarter, a Thomson Reuters/INSEAD survey showed. Companies in India were the most upbeat for the fourth straight quarter, logging 97 on hopes that low inflation and aggressive interest rate cuts will boost the domestic economy.

Singapore firms registered the least positive outlook for the third consecutive quarter in anticipation of the first US rate hike in almost a decade, which could happen as early as June. Local banks are likely to match the hike, making mortgages expensive and pulling down demand for property.

09:15

Nifty below 8700, Sensex falls over 100 pts; M&M, HUL weak

The market is slipping away. The Sensex 124.19 points at 28612.19, and the Nifty is down 33.45 points at 8689.85. About 883 shares have advanced, 742 shares declined, and 139 shares are unchanged.

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