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Sensex, Nifty consolidate; Lupin gains 3%, Bharti slips 2%

Aug 31, 2015, 12.24 PM | Source: Moneycontrol.com

Lupin topped the buying list on Sensex, up 3 percent followed by Sun Pharma, Axis Bank, ONGC, Dr Reddy’s Labs, Cipla and GAIL with 1-2 percent upside. However, Infosys, Bharti Airtel, BHEL, Bajaj Auto and Tata Steel declined 1-2 percent.

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Sensex, Nifty consolidate; Lupin gains 3%, Bharti slips 2%

Lupin topped the buying list on Sensex, up 3 percent followed by Sun Pharma, Axis Bank, ONGC, Dr Reddy’s Labs, Cipla and GAIL with 1-2 percent upside. However, Infosys, Bharti Airtel, BHEL, Bajaj Auto and Tata Steel declined 1-2 percent.

12:11

TheNewsInternational Team

Sensex, Nifty consolidate; Lupin gains 3%, Bharti slips 2%

Equity benchmarks continued to consolidate after a 2-day short covering-led rally. The Sensex gained 4.75 points at 26397.13 and the Nifty rose 7.40 points to 8009.35.

Some brokerages turned bearish on Indian equities. Macquarie cut year-end Nifty target to 8,700 from 9,600 to build-in lower earnings post weak Q1. Barclays, too, reduced 12-month Nifty target to 9,642 as it believes earnings recovery elusive.

Globally, Asian markets continued to trade mostly lower with Shanghai down more than 2 percent on reports that Beijing may finally halt its controversial market intervention.

RBI governor Raghuram Rajan told CNBC that he is not done with cutting rates yet and that he will follow the data to see how much action is possible.

In macro data to watch today, GDP in Q1FY16 is expected to come in at 7.5 percent, well above the 6.7 percent seen last year in Q1. However, what economists are watching is the GVA or gross value added and that is expected to fall to 6.81 percent from 7.4 percent in the year ago first quarter.

Lupin topped the buying list on Sensex, up 3 percent followed by Sun Pharma, Axis Bank, ONGC, Dr Reddy’s Labs, Cipla and GAIL with 1-2 percent upside. However, Infosys, Bharti Airtel, BHEL, Bajaj Auto and Tata Steel declined 1-2 percent.

11:00

Nifty above 8000 ahead of GDP data, Sensex flat; GAIL up 2%

GAIL, Lupin, Cipla, Sun Pharma and Axis Bank are top gainers while Bharti Airtel, BHEL, Vedanta, Tata Steel and Bajaj Auto are among losers in the Sensex.

Read More »

10:00

Sensex, Nifty recover; pharma supports, HDFC & SBI reboundRead More »

Equity benchmarks recouped early losses. The Sensex rose 16.27 points to 26408.65 and the Nifty advanced 8.10 points to 8010.05.

Read More »

09:15

Sensex skids over 100 pts, Nifty weak; Vedanta, BHEL downRead More »

ONGC, Bharti Airtel, Dr Reddy’s Labs, Lupin and Wipro while Vedanta, Bajaj Auto, BHEL, TCS and Tata Steel are among laggards in the Sensex.

Read More »

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