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Sensex, Nifty continue to fall; FMCG gains, pharma drags

Investors as well as traders are cautious on the market due to uncertainty over GST Bill and fears of likely hike in Fed rates.

12:00

TheNewsInternational Team

12:15 pm 2016 a good year?: 

Independent market expert, Jyotivardhan Jaipuria believes that market may not see an year-end rally this time around but 2016 would prove to be a good year for equities because the economy is slowly bottoming out, adding that one could also see some positive earnings surprises in 2016. One could see double-digit growth in earnings from H2CY16.

Earnings surprise could come from consumer durables on back of interest rate cuts and 7th pay commission coming through, and infrastructure stocks on back of government spending on roads. They could witness an improvement.

Globally, he says China is still a concern and we could see more devaluation from there in an attempt to slow their economy. Meanwhile, the Fed rate hike next week could take the uncertainty out of the market.

Also read – Base rate calculation: Why banks are hurting from RBI move

12:00 pm Market Check

The market is not showing any recovery as it has been seeing selling pressure for the sixth consecutive session today. Investors as well as traders are cautious on the market due to uncertainty over GST Bill and fears of likely hike in Fed rates.

The 30-share BSE Sensex slipped 96.93 points to 25213.40 and the 50-share NSE Nifty fell 31.75 points to 7669.95. The BSE Midcap and Smallcap dropped 1-1.5 percent.

The market breadth was weak as about four shares declined for every share advancing on the Bombay Stock Exchange.

Healthcare, auto, metals and oil stocks saw selling pressure while FMCG continued to support.

11:00

Nifty drifts away from 7700; Vedanta, Bharti laggards

BHEL, TCS, ITC, HUL and HDFC Bank are top gainers while Vedanta, Bharti Airtel, Dr Reddy’s Labs, Tata Steel and Hindalco are major losers.

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10:00

Sensex, Nifty remain under pressure; ITC, BHEL, SBI up 1-2%Read More »

BHEL, ITC, SBI, TCS and HDFC Bank are major gainers in the Sensex while Dr Reddy’s, Bharti, Vedanta, Hindalco and Sun Pharma are major laggards.

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09:15

Nifty opens below 7700, Sensex weak; Dr Reddy’s plungesRead More »

BHEL, ITC, HUL, Tata Steel, Sun Pharma, Asian Paints, Tata Motors and Cipla were early gainers while Dr Reddys Labs fell 3.5 percent. GAIL, Vedanta, Bharti Airtel, Hindalco and UltraTech Cement were under pressure.

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