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Sensex, Nifty continue to be sluggish; banks slump

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.

11:00

TheNewsInternational Team

The market continues to be under pressure as the Sensex is down 151.57 points or 0.6 percent at 27101.87. The Nifty is down 39.45 points or 0.5 percent at 8193.45. About 830 shares have advanced, 646 shares declined, and 74 shares are unchanged.

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.

Gold retained small overnight gains on Wednesday, but caution prevailed ahead of a Federal Reserve policy statement later in the session as investors waited for clues on the timing of a US rate hike. The US central bank is not expected to raise rates on Wednesday, but markets will be eyeing the statement for the Fed’s take on the US and global economies, and whether it could hike rates at its next meeting in December.

10:00

Nifty hovers around 8200 amid pressure; ICICI drags, ITC up

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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