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Nifty struggles to hold 8150; banks, FMCG laggards

Oct 29, 2015, 11.35 AM | Source: Moneycontrol.com

Bank and FMCG stocks are under heavy selling pressure. BHEL, Axis Bank, Bharti Airtel, GAIL and Maruti Suzuki are major losers in the Sensex.

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Nifty struggles to hold 8150; banks, FMCG laggards

Bank and FMCG stocks are under heavy selling pressure. BHEL, Axis Bank, Bharti Airtel, GAIL and Maruti Suzuki are major losers in the Sensex.

11:00

TheNewsInternational Team

11:30 am Market outlook:

There is no reason why one should not grab Axis Bank at the current levels, suggests Dipen Sheth of HDFC Securities. He urges investors to look at all parameters like NIM, loan growth etc and not agonise over NPAs. Sheth calls the private lender responsible for admitting its September quarter asset quality concerns. He is also bullish on ICICI Bank , which also has stressed assets, and advises to own the two stocks with a 2-year time horizon. “We remain buyers,” he told CNBC-TV18.

There is no reason why one should not grab Axis Bank at the current levels, suggests Dipen Sheth of HDFC Securities. He urges investors to look at all parameters like NIM, loan growth etc and not agonise over NPAs. Sheth calls the private lender responsible for admitting its September quarter asset quality concerns. He is also bullish on ICICI Bank , which also has stressed assets, and advises to own the two stocks with a 2-year time horizon. “We remain buyers,” he told CNBC-TV18.

Read more at: http://www.moneycontrol.com/news/market-outlook/axis-icici-must-have-stocks-mkt-uptrend-intact-hdfc-sec_3847881.html?utm_source=ref_article

There is no reason why one should not grab Axis Bank at the current levels, suggests Dipen Sheth of HDFC Securities. He urges investors to look at all parameters like NIM, loan growth etc and not agonise over NPAs. Sheth calls the private lender responsible for admitting its September quarter asset quality concerns. He is also bullish on ICICI Bank , which also has stressed assets, and advises to own the two stocks with a 2-year time horizon. “We remain buyers,” he told CNBC-TV18.

Read more at: http://www.moneycontrol.com/news/market-outlook/axis-icici-must-have-stocks-mkt-uptrend-intact-hdfc-sec_3847881.html?utm_source=ref_article

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The market is volatile as generally seen on F&O expiry day. The Sensex is down 48.70 points or 0.2 percent at 26991.06 and the Nifty is down 19.95 points or 0.2 percent at 8151.25. About 1162 shares have advanced, 884 shares declined, and 144 shares are unchanged.

Bank and FMCG stocks are under heavy selling pressure. BHEL, Axis Bank, Bharti Airtel, GAIL and Maruti Suzuki are major losers in the Sensex.

Oil prices tumbled, cutting short a rally the day before after hints of an interest rate hike in December by the US Federal Reserve boosted the dollar.

Prices rose yesterday after the US Department of Energy said the country’s commercial crude stockpiles had increased less than expected, suggesting stronger demand in the world’s top oil consuming nation.

But the rebound was punctured after the Fed yesterday signalled it could raise rates before the end of the year, expressing optimism for the world’s top economy after “solid” consumer spending and business investment.

10:00

Sensex hovers around 27000 amid pressure; DRL up, Axis down

Dr Reddy’s Labs gained more than 2 percent ahead of earnings. Profit is seen rising 12 percent year-on-year to Rs 642.86 crore and revenue is likely to increase 11 percent to Rs 3,978 crore during July-September quarter, according to a CNBC-TV18 poll.

Read More »

09:15

Sensex, Nifty flat; Ambuja Cements down, Cipla gainsRead More »

Vedanta, Cipla, ICICI Bank, ONGC, BHEL, Cairn India and HCL Tech were early gainers. HUL, Sun Pharma, HDFC Bank, Wipro, Hero Motocorp, Power Grid Corp, Ambuja Cements and BPCL lost ground.

Read More »

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