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Sensex, Nifty continue to fall; Auto, FMCG index in red

Mar 20, 2015, 01.51 PM IST | Source: Moneycontrol.com

NTPC, BHEL, ICICI Bank, HUL, BPCL and GAIL are major losers in the Sensex. Among the gainers are Wipro, Infosys, Coal India, HDFC, Cairn India, Hindalco and IndusInd Bank.

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Sensex, Nifty continue to fall; Auto, FMCG index in red

NTPC, BHEL, ICICI Bank, HUL, BPCL and GAIL are major losers in the Sensex. Among the gainers are Wipro, Infosys, Coal India, HDFC, Cairn India, Hindalco and IndusInd Bank.

13:00

The News International Team

1:30 pm Buzzing: Shares of LIC Housing Finance rose 3 percent intraday after CLSA initiated coverage with a buy rating. The brokerage has set a target price of Rs 580 per share stating that demand uptick and low cost are likely to drive earnings.

LIC HF has a 10 percent share in mortgage financing and CLSA expects the pick-up in housing demand and fall in cost of funds to drive 20 percent CAGR in profit over FY15-17.

“A high proportion of mortgage loans (over 90 percent) reduces asset quality risks, but we are concerned by aggressive growth in loan against properties (LAP) and commercial loans. Nevertheless, its healthy ROE of 20 percent makes it a good compounding story,” it says in a report.

Bears are in full charge of Dalal Street. The Sensex is down 198.94 points at 28270.73 and the Nifty is down 57.65 points or 0.7 percent at 8577. About 616 shares have advanced, 1952 shares declined and 161 shares are unchanged.

NTPC, BHEL, ICICI Bank, HUL and GAIL are major losers in the Sensex. Among the gainers are Wipro, Infosys, Coal India, HDFC, Cairn India, Hindalco and IndusInd Bank.

China’s economy is likely to grow around 7 percent this year and 6.9 percent in 2016 as the government pushes reforms on interest rates and currency and pursues slower but higher-quality growth, OECD said.

China can avoid an abrupt slowdown as long as the government ensures an orderly unwinding of economic imbalances, the Organisation for Economic Co-operation and Development said in its latest survey on the world’s second-largest economy. OECD Secretary-general Angel Gurria said he also expected domestic demand will be strong enough to prevent deflation.

12:00

Sensex, Nifty still weak; IT stocks gain, Coal India up

IT stocks are on buyer’s radar while Coal India and Bharti Airtel are top gainers in the Sensex. Among the losers are NTPC, GAIL, ICICI Bank, HUL and Tata Motors.

Read More »

11:00

Nifty hovers around 8600; NTPC tanks 7%, GAIL & BHEL slipRead More »

NTPC drags 7 percent while GAIL is down 3 percent. BHEL, ICICI Bank and Tata Motors are top losers in the Sensex. Among top gainers are Wipro, Infosys, HDFC, Sun Pharma and Dr Reddy’s Labs.

Read More »

10:00

Sensex, Nifty sluggish; Sun Pharma, Bharti, Wipro gainersRead More »

Sun Pharma, Bharti Airtel, Wipro, Dr Reddy’s Labs and Infosys are top gainers in the Sensex. NTPC, GAIL, BHEL, Tata Motors, Axis Bank are among losers in the Sensex.

Read More »

09:15

Sensex, Nifty under pressure on weak global cuesRead More »

Wipro, Sun Pharma, Tata Power, Coal India, Cipla, Lupin and Dr Reddy’s Labs gained 0.5-1 percent. However, NTPC tanked 7 percent as it is ex-date for bonus issue for debenture holders.

Read More »

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