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Sensex, Nifty volatile; Tata Power gains, Vedanta plunges

Aug 13, 2015, 02.16 PM | Source: Moneycontrol.com

Metals stocks extended losses in afternoon trade with the Vedanta falling nearly 6 percent followed by Tata Steel with 5 percent loss.

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Sensex, Nifty volatile; Tata Power gains, Vedanta plunges

Metals stocks extended losses in afternoon trade with the Vedanta falling nearly 6 percent followed by Tata Steel with 5 percent loss.

14:04

TheNewsInternational Team

Sensex, Nifty volatile; Tata Power gains, Vedanta plunges

The market continued to be in consolidation mode with the Sensex rising 87.77 points to 27600.03 and the Nifty up 27 points at 8376.45. About 1147 shares have advanced, 1533 shares declined, and 136 shares are unchanged on the BSE.

Tata Power jumped nearly 4 percent after strong earnings in Q1. It turned profitable during the quarter, reporting net at Rs 241.3 crore against loss of Rs 111.3 crore in same quarter last year. Revenue jumped 6 percent year-on-year to Rs 9,234.6 crore.

Metals stocks extended losses in afternoon trade with the Vedanta falling nearly 6 percent followed by Tata Steel with 5 percent loss.

The recent market weakness can be attributed to China, policy logjam (GST) and the slow pickup in the earnings cycle, says Vikas Khemani, CEO, Edelweiss Securities.

However, he says India has a unique story and these kinds of falls or dips should be used definitely as an opportunity to build equity play portfolio from a medium-to-long-term perspective.

13:00

Sensex, Nifty consolidate; Lupin & Cipla up, Hindalco down

The rupee breached 65 a dollar, the weakest level since September 2013 on heavy dollar buying by corporates and FIIs. However, exporters sold dollars at the 65 mark, helping the currency pull back slightly from day’s low to trade at 64.91 a dollar, down 14 paise. RBI intervention may also have supported rupee.

Read More »

12:00

Sensex, Nifty off day’s high; rupee hits 65/$ , metals downRead More »

Cipla, Lupin, Bharti, M&M and Hero are top gainers while Tata Steel, Vedanta, Hindalco abd GAIL are among losers.

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11:00

Nifty nears 8400; Nestle up 5% on HC order on Maggi noodlesRead More »

Cipla, Bharti Airtel, Lupin, Cipla, SBI and Coal India are top gainers in the Sensex. Among the losers are Vedanta, Tata Steel, Hindalco, GAIL and Wipro.

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10:00

Nifty below 8400, Sensex steady; Tata Steel slumps 4%Read More »

Tata Steel, Vedanta, Hindalco, GAIL and Coal India are down 1-4 percent while Bharti Airtel, Lupin, Infosys, Cipla and HDFC Bank are top gainers in the Sensex.

Read More »

09:15

Sensex gains over 200pts, Nifty scales 8400; SBI, Bharti upRead More »

Bharti Airtel, Cipla, ICICI Bank, Tata Steel and ONGC are top gainers in the Sensex. Among the losers are TCS, ITC and GAIL.

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