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Sensex, Nifty flat; ONGC HDFC gain 1%, BHEL drags 2%

Sep 11, 2015, 02.10 PM | Source: Moneycontrol.com

Infosys, ONGC, HDFC, Wipro and Hindalco are top gainers while Tata Steel, BHEL, GAIL, Axis Bank and Relinace are laggards in the Sensex.

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Sensex, Nifty flat; ONGC & HDFC gain 1%, BHEL drags 2%

Infosys, ONGC, HDFC, Wipro and Hindalco are top gainers while Tata Steel, BHEL, GAIL, Axis Bank and Relinace are laggards in the Sensex.

13:00

TheNewsInternational Team

1:50 pm

The 7th Pay Commission report is likely to come out after Bihar elections. the government is likely to take 3-4 months to decide on the Pay Commission report. The fiscal impact of the Pay Commission report will reflect in the FY17 Budget. The benefits of the Pay Commission will kick in from January 1,2016.

1:30 pm Outlook: 
The Indian market is attractively priced and a big push comes from commodity deflation, which impacts India favourably, says Manish Gunwani, senior fund manager at ICICI Prudential AMC. He says despite the volatility in the market over the past few weeks, retail participation, domestic inflows have been rather consistent, majorly because physical assets such as real estate are rather unattractive at the moment. He is, however, worried about the fall in the rupee against the dollar, though the rupee has appreciated against many Asian currencies.

In terms of further earnings downgrade on the back of disturbing global news, Gunwani believes there may be some downgrades of 1-2 percent here and there at the margins. Going ahead, he believes there may be more interest rate cuts and there will be increased government spending at the state as well as the Central government level in the second half of FY16.

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The market has flattened out as metals dragged and IT rallied. The Sensex is up 32.74 point at 25654.91 and the Nifty is up 7.30 point at 7795.40. About 1481 shares have advanced, 955 shares declined, and 108 shares are unchanged.

Infosys, ONGC, HDFC, Wipro and Hindalco are top gainers while Tata Steel, BHEL, GAIL, Axis Bank and Relinace are laggards in the Sensex.

Asian stocks were volatile, as investors eyed increased uncertainty heading into the Federal Reserve’s crucial meeting on interest rates next week.

The Fed is widely expected to raise its near-zero interest rate as early as next week amid improving economic fundamentals in the US. But an abrupt devaluation of the yuan by Chinese authorities in August and renewed turmoil in global markets has had some market watchers paring back their forecasts.

12:00

Sensex, Nifty erase early gains; Reliance, Tata Motors drag

Capital goods and select auto stocks were under pressure while technology, FMCG, healthcare and select banking & financials stocks gained.

Read More »

11:00

Sensex, Nifty off day’s high; IT, FMCG stocks leadRead More »

Infosys, SBI, Wipro, Axis Bank and Hindalco are top gainers while GAIL, Tata Motors, Tata Steel and BHEL are major losers in the Sensex.

Read More »

10:00

Nifty eyes 7850, Sensex firm; SBI & Vedanta up 2%, HUL downRead More »

SBI, Vedanta, Axis Bank, Wipro and ONGC are top gainers whule BHEL, HUL, Tata Motors, GAIL and ICICI Bank are among laggards in the Sensex.

Read More »

09:15

Sensex up 200 pts, Nifty opens above 7800; SBI, Axis leadRead More »

SBI, Axis Bank, ONGC, Vedanta, M&M and YES Bank topped the buying list, rising 1-2 percent. However, GAIL, ICICI Bank, Tata Motors, Bosch and BHEL were marginally in red.

Read More »

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