The market sees consolidation in afternoon trade. Maruti Suzuki rebounded with 1.6 percent gain on short covering.
12:30
Moneycontrol BureauLive Market Commentary The market sees consolidation in afternoon trade. The Sensex climbed 95.84 points to 21922.26 and the Nifty advanced 21.05 points to 6532.95. About 1211 shares have advanced, 1161 shares declined, and 133 shares are unchanged.
Maruti Suzuki rebounded with 1.6 percent gain on short covering. The stock was down 4 percent in early trade as investors raised red flag regarding its Gujarat plant. Domestic fund managers have written a second letter to the management questioning its decision. Also, the fund managers have questioned the role of independent directors on the Maruti board.
State-run power equipment maker BHEL and engineering & construction major L&T lost 2 percent and 1.4 percent, respectively.
11:00
The IIP data is expected to contract at around 1.1 percent compared to a contraction of 0.6 percent due to weakness in manufacturing data. Manufacturing comprises 80 percent of total IIP.
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10:00
Dr Reddy's Labs and Cipla gained 1 percent while technology stocks like TCS and Wipro rose over 1.6 percent. Index heavyweight ITC advanced 1.4 percent.
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09:15
Maruti falls 3 percent on Gujarat plant woes. The rupee declined in early trade. It opened lower by 18 paise at 61.12 per dollar as against 60.94 a dollar Tuesday.
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