Live Market Updates: Nifty tests 5700; Hindustan Unilever gains 2%

12:27

It is a weak session of trade; the Nifty has drifted below 5700 level. At 12.16 hrs IST, the Sensex is down 131.34 points at 18876, and the Nifty fell 52.40 points at 5693. About 609 shares advanced, 1889 shares declined, and 1053 shares remain unchanged.
FMCG major Hindustan Unilever was the top gainer on the Sensex rising almost 2 percent. Broking firm UBS has upgraded HUL to buy from neutral.

It has raised the target price to Rs 540 from Rs 500, citing expectations for a strong business outlook and the prospect of rising volumes for its products.

Cipla, TCS, Hero Motocorp and Sun Pharma were the other gainers.

Also Read: Nifty may fall 10% more in 2-3 months: Envision

The midcap index was down over 1.5%. Stock like Unitech, Opto Cirucits, Shree Renuka fell more than 5% each. On the flip side, SBI was the top loser on the Sensex, it fell 2.73%. L&T, NTPC and ONGC were all down 2 percent each.

Paring most of early losses, the Indian rupee was down by three paise at 54.40/USD in the late morning deals.

Globally, it's a mixed session across Asian markets; the Chinese index is up nearly 2%, while Hong Kong is up a percent. Japanese markets are shut today.

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