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Nifty inches towards 7850, Sensex steady; banks metals up

NTPC, Tata Steel, Axis Bank, Wipro and GAIL are top gainers in the Sensex while Reliance, ONGC, Bajaj Auto, Hero MotoCorp and HDFC are among laggards in the Sensex.

11:00

TheNewsInternational Team

The market is making smart gains supported by banks, metals and pharma stocks. The Sensex is up 133.71 points or 0.5 percent at 25743.92, and the Nifty up 40.40 points or 0.5 percent at 7829.70. About 1374 shares have advanced, 631 shares declined, and 66 shares are unchanged.

NTPC, Tata Steel, Axis Bank, Wipro and GAIL are top gainers in the Sensex while Reliance, ONGC, Bajaj Auto, Hero MotoCorp and HDFC are among laggards in the Sensex.

Oil prices fell in Asian trading as weakening demand weighed on markets, although US futures received some support from reduced American drilling. Front-month Brent crude futures were down around 40 cents from their last settlement at USD 47.73 per barrel at 0402 GMT. US crude futures dipped 16 cents to USD 44.46. Several banks said the immediate outlook remained weak.

“Both the supply and demand pictures look less favourable over the coming months … Outside the US, oil fundamentals appear to be slipping seasonally,” Morgan Stanley said on Monday, adding that there was potential for floating storage within the second half of 2015.

Macquarie noted that falling global auto sales in August were dragging on demand.

10:00

Sensex, Nifty consolidate; Midcap, Smallcap outperform

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.6-0.8 percent. The market breadth remained positive as about 1032 shares have advanced against 569 shares declined on the Bombay Stock Exchange.

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09:15

Sensex, Nifty flat; Tata Steel & Wipro gain; Reliance downRead More »

Tata Steel, Wipro, Sun Pharma, TCS and HUL are top gainers while ICICI Bank, Infosys, Reliance, Vedanta and HDFC are early losers.

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