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Nifty struggles below 7850; Coal India up 2%, HUL gains

Coal India, NTPC, Bharti Airtel, GAIL and HUL are top gainers while Infosys, Dr Reddy’s, Vedanta, Maruti and Hindalco.

10:00

TheNewsInternational Team

The market is struggling to move into positive terrain. The Sensex is down 34.91 points at 25829.56 and the Nifty slips 13.35 points at 7824.20. About 1067 shares have advanced, 665 shares declined, and 110 shares are unchanged.

Coal India, NTPC, Bharti Airtel, GAIL and HUL are top gainers while Infosys, Dr Reddy’s, Vedanta, Maruti and Hindalco.

Though the world is bearish on the emerging market (EM) space, India is still better placed, says Bhanu Baweja, Global Head of EM Cross Asset Strategy at UBS in an conversation with CNBC-TV18 from the sidelines of UBS India Conference.

The combination of growth and dollar strength in the US could give the Federal Reserve the ammunition to hike rates in December and could result in more weaknes for EMs towards the year-end. However, since markets have already priced in a 70 percent chance of rate hike, it is unlikely that they will crash, says Baweja.

09:15

Sensex, Nifty open flat; Infosys falls again, ITC leads

Infosys fell again on margin warning, down nearly 2 percent. ITC continued to be lead contributor to Sensex’s gains, up 0.5 percent.

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