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Nifty ends below 8200 ahead of expiry, Sensex down 214pts

Oct 28, 2015, 05.43 PM | Source: Moneycontrol.com

The Sensex ended down 213.68 points or 0.8 percent at 27039.76 and the Nifty slipped 61.70 points or 0.7 percent at 8171.20. About 1161 shares advanced, 1489 shares declined, and 186 shares were unchanged.

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Nifty ends below 8200 ahead of expiry, Sensex down 214pts

The Sensex ended down 213.68 points or 0.8 percent at 27039.76 and the Nifty slipped 61.70 points or 0.7 percent at 8171.20. About 1161 shares advanced, 1489 shares declined, and 186 shares were unchanged.

16:52

TheNewsInternational Team

October series Future & Options expiry and tepid September quarter earnings of few companies scared investors on Dalal Street. Struggling to hold grounds, the market ended with severe losses as Bihar polls also weigh on sentiments. Investors are also cautioned about outcome of the Federal Open Market Committee (FOMC) meet tonight.  The FOMC is expected to tone down its assessment of the economy in the statement it releases at the meeting’s conclusion.

The Sensex ended down 213.68 points or 0.8 percent at 27039.76 and the Nifty slipped 61.70 points or 0.7 percent at 8171.20. About 1161 shares advanced, 1489 shares declined, and 186 shares were unchanged.

However, analysts feel the market is poised for growth. The Nifty will make a new high by June next year and India continues to be the best structural bet among emerging markets, says Adrian Mowat, JP Morgan’s chief Asian and emerging market equity strategist. In the Bihar election goes, an NDA defeat will not be taken positively by the markets, says Mowat.

Meanwhile, banks, auto and pharma stocks were under severe selling pressure. Bank Nifty fell 2.5 percent as Axis Bank, ICICI Bank and SBI were major laggrads. Axis Bank lost over 7 percent on its asset quality concerns post September quarter results.

Among the gainers were Cipla, Bharti Airtel, ONGC, Tata Motors and HUL.

A lot of action was seen in the primary market as well as InterGlobe Aviation entered day two while SH Kelkar launched its issue. IndiGo’s issue was fully subscribed on the second day riding on strong demand from institutional investors.

14:00

Sensex tanks over 200pts, Nifty ends at 8171; Axis Bank dip

Axis Bank, ICICI Bank, SBI, NTPC and Lupin were laggards while Cipla, Bharti, ONGC, Tata Motors and HUL.

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13:00

Nifty struggles around 8150, Sensex loses over 250 ptsRead More »

Bharti Airtel, Vedanta, Maruti, Tata Motors and HUL are top gainers while Axis Bank, ICICI Bank, SBI, Dr Reddy’s Labs and Lupin are major losers.

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12:00

Sensex falls 200 pts; SBI & Dr Reddy’s down 2%, Maruti upRead More »

Maruti Suzuki extended upside, rising 1 percent after company reporting better operating profit in Q2FY16. Bharti Airtel gained nearly 2 percent as Eaton Towers acquired 2,500 towers from the company in 4 African countries.

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11:00

Sensex, Nifty continue to be sluggish; banks slumpRead More »

Bharti Airtel, HDFC Bank, Tata Motors, Tata Steel and GAIL are top gainers in the Sensex. Among the losers are Axis Bank, ICICI Bank, Lupin, ONGC and Coal India.

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10:00

Nifty hovers around 8200 amid pressure; ICICI drags, ITC upRead More »

Axis Bank plunged more than 5 percent after brokerage cut target price on the stock, though they maintained positive rating on stock. With retaining overweight rating, Barclays slashed target price to Rs 629 (from Rs 633) and reduced FY16/17 EPS by 4/3 percent mainly on back of increased credit costs.

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09:15

Nifty opens below 8200, Sensex weak; Axis tanks 7%Read More »

Axis Bank is down 7 percent while Vedanta, ICICI Bank, Lupin and ONGC are major losers in the Sensex. Gainers include GAIL, Maruti, Hindalco, SBI and HDFC.

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