Sun Pharma gains 3%, Reliance down 1%; Sensex drops 150 pts

Written By Unknown on Jumat, 11 April 2014 | 14.02

Housing finance company HDFC tumbled 2 percent. Shares of Reliance Industries, Infosys, L&T, M&M, Hero Motocorop and Maruti dropped 1-1.6 percent.

12:25

Moneycontrol Bureau
Live Market Commentary Equity benchmarks fell over 0.6 percent but the broader markets beat benchmarks with the BSE Midcap and Smallcap rising 0.2 percent and 0.5 percent, respectively.

The Sensex slipped 156.72 points to 22558.61 and the Nifty declined 43.15 points to 6753.25. About 1178 shares have advanced, 1131 shares declined, and 158 shares are unchanged.

Housing finance company HDFC tumbled 2 percent. Shares of Reliance Industries, Infosys, L&T, M&M, Hero Motocorop and Maruti dropped 1-1.6 percent.

Top private sector lender ICICI Bank lost over 1 percent while rivals SBI and Axis Bank declined 0.7 percent each.

However, pharma stocks outperformed with the BSE Healthcare index rising 1 percent. Drug major Sun Pharma recouped all its previous day's losses, gaining 2.7 percent followed by Dr Reddy's Labs and Cipla with 1 percent.

11:00

Banks are weak ahead of index of industrial production (IIP) data to be announced in the evening. Industrial output in February is likely to improve to 0.34 percent compared to 0.1 percent in January, according to a CNBC-TV18 poll.

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10:00

Housing finance company HDFC and engineering & construction major L&T slipped over a percent. Infosys too lost over a percent, continuing downtrend for the third straight day. TCS and Wipro plummeted 0.9 percent each.

Read More »

09:15

With the Dow recording its worst fall in 2 months, US Stocks slammed on Thursday. The S&P fell below its 50-day moving average and dangerously close to its 100 DMA as well. The Nasdaq composite suffered its worst day since late 2011 with high-flying technology and biotech shares leading the declines.

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