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Nifty ends below 7800, Sensex tanks 256pts on global jitter

Nov 13, 2015, 04.54 PM | Source: Moneycontrol.com

The Sensex slipped 256.42 points or 0.9 percent at 25610.53 and the Nifty fell 66.20 points or 0.8 percent at 7762.25. About 933 shares have advanced, 1656 shares declined, and 156 shares are unchanged.

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Nifty ends below 7800, Sensex tanks 256pts on global jitter

The Sensex slipped 256.42 points or 0.9 percent at 25610.53 and the Nifty fell 66.20 points or 0.8 percent at 7762.25. About 933 shares have advanced, 1656 shares declined, and 156 shares are unchanged.

16:39

TheNewsInternational Team

The Samvat 2072 cheer was short-lived on Dalal street, as global sentiments weigh in on Dalal Street. Global jitters on Fed rate hikes and falling crude price bruised investor sentiment a day after Diwali in India. The Nifty failed to hold on to 7800-mark as all the gains posted during Muhurat trading was wiped out on Friday. The market lost more than 2 percent in trade this week.

The Sensex slipped 256.42 points or 0.9 percent at 25610.53 and the Nifty fell 66.20 points or 0.8 percent at 7762.25. About 933 shares have advanced, 1656 shares declined, and 156 shares are unchanged.

Asian stocks were down amid sharp falls in the price of commodities and growing expectations that the Federal Reserve is on track for a rate hike in December for the first time in nearly a decade  Crude prices hit two-and-a-half-month lows after the US government reported a stockpile build four times above market expectations.

However, this has not perturbed analysts who are betting big on India. Xavier Denis, Global strategist, Societe Generale feels that India is a bright spot among emerging markets and overseas investors are showing an appetite to invest in India.

He says, India is one of the few markets that will see growth acceleration in the next year and year after that. However, the only challenge for India is in terms of reforms and whether the government will be able to push through important reforms to propel long-term economic growth,

Metal index was up in a weak market. Coal India, Bharti Airtel, Axis Bank, GAIL and Tata Steel were top gainers in the Sensex. Among the losers were Vedanta, Cipla, Bajaj Auto, ONGC and Hindalco.

Bharti Airtel rose as the company is going to issue its maiden Sterling bond of up to 500 million pounds. This bonds, when issued, will be listed on London Stock Exchange. “The intended bond issue, when issued, will help Bharti drive its strategy of further diversification and further extension of maturities,” as per BSE filing.

Meanwhile, Indiabulls Housing Finance slumped 17 percent intraday after it struck a deal with UK’s OakNorth Bank for to acquire a 39.76 percent stake for USD 100 million (about Rs 661 crore). It feels the acquisition will help it chart a roadmap to a deposit-taking franchise. However, the deal has not gone well with investors raising concerns on the investment. Analysts say that it was an expensive deal.

14:00

Sensex tanks 256 pts, Nifty ends at 7762; Coal India up 3%

Coal India, Bharti, Axis Bank, GAIL and Tata Steel were top gainers while Vedanta, Cipla, Bajaj Auto, ONGC and Hindalco were losers in the Sensex

Read More »

13:00

Sensex, Nifty remain sluggish; Bharti, Reliance, Axis riseRead More »

Coal India, Axis Bank, Tata Steel, Reliance and Bharti Airtel are top gainers while Vedanta, ONGC, TCS, Cipla and Hindalco are major losers in the Sensex.

Read More »

12:00

Sensex, Nifty crack 1%; Vedanta, Cipla, L&T major laggardsRead More »

Coal India, Tata Steel, Axis Bank and GAIL are top gainers in the Sensex while Vedanta, ONG, TCS, Cipla and L&T are top gainers.

Read More »

11:00

Nifty struggles below 7750, Sensex slumps; Coal India up 2%Read More »

The market continues to skid further as selling pressure mounts on. The Sensex is down 261.29 points or 1 percent at 25605.66, and the Nifty is down 80 points or 1 percent at 7748.45. About 656 shares have advanced, 1418 shares declined, and 128 shares are unchanged.

Read More »

10:00

Sensex, Nifty under pressure on weak global cues; TCS dragsRead More »

TCS, Vedanta and Cipla topped selling list on Sensex, down more than 2 percent followed by Infosys, Reliance Industries, HDFC, ITC, ICICI Bank, L&T, HDFC Bank, Tata Motors, SBI, HUL, ONGC and Maruti with 0.5-1.5 percent loss.

Read More »

09:15

Nifty opens below 7800, Sensex tanks over 200 ptsRead More »

Bharti Airtel, ONGC, ITC, Lupin and Vedanta are top laggards in the Sensex.

Read More »

READ MORE ON  BSE, Sensex, NSE, Market, Nifty, Indiabulls Hosuing, metal, Vedanta, Coal India,
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