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Nifty struggles below 7650; ICICI Bank, Tata Motors down

The market is still under pressure as all eyes are on the FOMC tonight. The Sensex is down 20.34 points at 25130 and the Nifty is down 12.80 points at 7637.25. About 1221 shares have advanced, 812 shares declined, and 133 shares are unchanged.

11:00

TheNewsInternational Team

The market is still under pressure as all eyes are on the FOMC tonight. The Sensex is down 20.34 points at 25130 and the Nifty is down 12.80 points at 7637.25. About 1221 shares have advanced, 812 shares declined, and 133 shares are unchanged.

Reliance, HUL, ONGC, Sun Pharma and Axis Bank are top gainers while ICICI Bank, Tata Motors, Wipro, BHEL and Hindalco are losers in the Sensex.

Gold is hit from overnight losses on Tuesday and the metal looked vulnerable to a drop back to multi-year lows on expectations of a US rate hike later this week.

The Federal Reserve will kick off its last policy meet of the year later on Tuesday. At the end of the two-day meet, the US central bank is widely expected to hike interest rates for the first time since June 2006.

Higher rates are expected to hurt demand for non-interest-paying bullion, while boosting the dollar. Gold has already slid 10 percent for the year, its third straight annual decline, in anticipation of higher rates.

10:00

Sensex, Nifty continue to consolidate; Reliance, HUL gain

Reliance Industries and Hindustan Unilever topped the buying list on Sensex, up more than 1.5 percent. ITC, Sun Pharma and ONGC gained 0.5-1 percent while ICICI Bank, Tata Motors, SBI, Wipro and BHEL fell 1-2 percent.

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09:15

Sensex opens flat, Nifty holds 7650; Sun Pharma gains 1%Read More »

Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.

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