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Sensex, Nifty continue to rise; Axis Bank, GAIL, HUL drag

Bharti Airtel is up over 2 percent while Sun Pharma, Cipla, Lupin and Vedanta are top gainers in the Sensex. Among the losers are Axis Bank, GAIL, HUL, Tata Motors and Tata Steel.

10:11

TheNewsInternational Team

The market is going steady as the Sensex is up 140.10 points or 0.5 percent at 27689.63. The Nifty is up 46.65 points or 0.6 percent at 8402.50. About 1050 shares have advanced, 800 shares declined, and 105 shares are unchanged.

Bharti Airtel is up over 2 percent while Sun Pharma, Cipla, Lupin and Vedanta are top gainers in the Sensex. Among the losers are Axis Bank, GAIL, HUL, Tata Motors and Tata Steel.

Oil prices looked set for their seventh weekly fall in Asia today, with US crude tumbling to fresh six-year lows as investors worried a global supply glut is set to last.

Oil is traded in the US currency and any uptick in the dollar will make the commodity more expensive, hurting demand. Some analysts expect the US Federal Reserve to hike interest rates as early as next month, but others say China’s sudden move to devalue the yuan this week could prompt the Fed to delay a rise.

09:15

Nifty at 8400, Sensex up over 100 pts; pharma stocks rally

Sun Pharma, Cipla, Lupin, Bharti Airtel, Bank of Baroda, Idea Cellular and Infosys are top gainers, while Tata Steel, Gail India, Axis Bank and Hindalco are the top losers on the indices.

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