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Sensex, Nifty still reel under pressure; Vedanta sinks 5%

HUL, Infosys, Lupin and Coal India are top gainers in the Sensex. Among the losers are Vedanta, Bajaj Auto, Hero MotoCorp, GAIL and Tata Motors.

13:00

TheNewsInternational Team

The market is still reeling under pressure as the Sensex is down 319.01 points or 1 percent at 27288.81 and the Nifty down 102.55 points or 1 percent at 8270.20. About 623 shares have advanced, 1894 shares declined, and 91 shares are unchanged.

HUL, Infosys, Lupin and Coal India are top gainers in the Sensex. Among the losers are Vedanta, Bajaj Auto, Hero MotoCorp, GAIL and Tata Motors.

Federal Reserve officials are planning to lift interest rates as soon as September have been encouraged by solid US jobs growth, but inflation holds the key to how far the Fed can go in moving rates away from zero. Fed officials have said that they do not need to see prices accelerate to start raising rates after six years near zero, and “lift-off” appears nearly ordained by a 5.3 percent unemployment rate, the lowest since April of 2008.

12:00

Nifty hovers around 8250 amid pressure; HUL up, HDFC drags

Pressure on banks continued as the Bank Nifty saw a cut of more than 2 percent. The PSU Bank Index also saw a cut of 3 percent as Morgan Stanley said it’s time to sell state-owned banks. It is underweight on all PSU banks except Bank of Baroda where it expects a potential balance sheet clean-up given the new management.

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11:00

Sensex, Nifty continue to bleed; midcaps fall sharplyRead More »

Midcaps see sharp losses with the likes of Mastek, Motherson Sumi, Central Bank seeing pressure. Vedanta, Tata Motors, Hero MotoCorp, GAIL and SBI are among major losers while Infosys, Sun Pharma, Lupin, TCS and HUL are top gainers.

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10:00

Nifty hits 2-month low; Infosys, TCS, Lupin outperformRead More »

Infosys and TCS bucked the trend, rising over a percent. Lupin also gained 0.7 percent as Bank of America Merrill Lynch raised target price to Rs 2020 from 1800 and also upped earnings per share FY16/17/18 estimates by 2 percent/2 percent/3 percent, to factor in higher INR/USD (Rs 64.5/Rs 64/Rs 64 against earlier estimates of Rs 62 each).

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09:15

Nifty breaks 8250, Sensex crashes over 400 pts; banks diveRead More »

SBI, Bharti, Vedanta, Axis Bank and L&T are major laggards in the Sensex.

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