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Nifty back at 7650; ONGC, Maruti Tata Motors laggards

Tata Steel, Hindalco, SBI, Vedanta and Bajaj Auto are top gainers while ONGC, M&M, Maruti, Axis Bank and Tata Motors are major losers in the Sensex.

11:00

TheNewsInternational Team

The market has gone back to yesterday’s levels after intial jump in early trade. The Nifty is 7750.90 and the Sensex is down 4.38 points at 25489.99.

Tata Steel, Hindalco, SBI, Vedanta and Bajaj Auto are top gainers while ONGC, M&M, Maruti, Axis Bank and Tata Motors are major losers in the Sensex.

The impact of the US interest rate hike should be minimal in India as the country is relatively well cushioned, Chief Economic Adviser Arvind Subramanian said on Thursday.

Policy makers, including Reserve Bank of India Governor Raghuram Rajan, have been touting India as being more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals.

“I think we are relatively well cushioned. Volatility in Indian markets should be quite minimal,” Subramanian told reporters.

The Fed hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the US economy had largely overcome the wounds of the 2007-2009 financial crisis.

10:00

Sensex, Nifty erase early gains on profit booking; M&M down

The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 0.5-0.8 percent.

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09:15

Nifty flat after hitting 7800, Sensex up on Fed rate hikeRead More »

GAIL, SBI, NTPC, Sun Pharma and Vedanta are top gainers while ONGC, M&M, Coal India, HDFC and HUL are major losers in the Sensex.

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