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Nifty holds 8250; TCS, BHEL, Infosys, NTPC gain 1%

Tata Motors, TCS, NTPC, BHEL and Infosys are top gainers while Cipla, Bharti Airtel, ONGC, Hindalco, Vedanta are among losers in the Sensex.

10:00

TheNewsInternational Team

The market is flat with negative biases but the Nifty manages to hold 8250. The 50-share index is down 8.15 points at 8266.90 and the Sensex is down 24.37 points at 27340.55. About 1176 shares have advanced, 634 shares declined, and 96 shares are unchanged.

Tata Motors, TCS, NTPC, BHEL and Infosys are top gainers while Cipla, Bharti Airtel, ONGC, Hindalco, Vedanta are among losers in the Sensex.

Meanwhile, Ashutosh Raina, HDFC Bank says decline in commodity and energy prices after yesterday’s China GDP data has dampened sentiment a bit amidst global growth concerns.

According to him, USD/INR currency pair after failing to break Rs 64.70/USD support on the back of strong central bank intervention is expected to break the Rs 65/USD figure and move towards Rs 65.50/USD level, helped by risk-off sentiment.

Crude oil fell after a tumble in gasoline futures added pressure to a market slumping on slower growth in China and signs that Iranian oil will return to the market soon following implementation of its nuclear deal. US crude inventories rose by 3.7 million barrels last week, which would be the fourth consecutive weekly increase, according to average expectations of analysts polled by Reuters.

09:15

Sensex, Nifty open flat; Lupin early gainer, SREI surges

Lupin, Dr Reddy’s Labs, TCS, Wipro, HDFC Bank, UltraTech Cement, BPCL and Asian Paints were early gainers, up 0.5-1.5 percent. ONGC, Vedanta, Bharti Airtel, Hero Motocorp, Tata Steel, ACC and Hindalco declined 0.6-1 percent.

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