Sensex, Nifty fall 1%; ICICI, Infosys, Tata Motors drag

Written By Unknown on Kamis, 11 Desember 2014 | 14.03

Dec 11, 2014, 12.20 PM IST | Source: Moneycontrol.com

Shares of ICICI Bank, Reliance Industries, Infosys, Tata Motors, ONGC, SBI, Axis Bank, Tata Steel, Bharti Airtel and Gail India were down 1-2 percent while BHEL bucked the trend, up over 2 percent.

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Sensex, Nifty fall 1%; ICICI, Infosys, Tata Motors drag

Shares of ICICI Bank, Reliance Industries, Infosys, Tata Motors, ONGC, SBI, Axis Bank, Tata Steel, Bharti Airtel and Gail India were down 1-2 percent while BHEL bucked the trend, up over 2 percent.

12:23

Moneycontrol Bureau The market remained under pressure tracking global weakness. The BSE Sensex fell 264.36 points or 0.95 percent to 27566.74 and the NSE Nifty slipped 71.70 points or 0.86 percent to 8283.95 while the BSE Midcap and Smallcap indices declined 0.8 percent and 0.9 percent, respectively.

About 822 shares have advanced while 1645 shares declined on the Bombay Stock Exchange.

Shares of ICICI Bank, Reliance Industries, Infosys, Tata Motors, ONGC, SBI, Axis Bank, Tata Steel, Bharti Airtel and Gail India were down 1-2 percent while BHEL bucked the trend, up over 2 percent.

Global cues remained weak. Asian markets traded in the red with the Nikkei at 2-week lows, falling 0.9 percent, sentiment weighed down by weakness in US, worse than expected Japanese machinery data and decline in oil prices.

Brent crude oil prices edged up marginally to trade near USD 65 a barrel. The OPEC cut its 2015 world oil demand growth forecast by 70,000 barrels per day (bpd) to 1.12 million bpd, the lowest in a decade. Cairn India lost more than 2 percent on continued weakness in oil prices.

Havells India continued its decline from yesterday, down 8 percent. The management told CNBC-TV18 that overall sales have tapered off for all segments. They expect to end FY15 with 13-13.5 percent margins. Additionally, UBS has downgraded the stock to sell from neutral with a target of Rs 295.

Sugar companies such as Balrampur Chini and Bajaj Hindusthan gained over 6 percent, reacting to the new ethanol blending policy approved by the CCEA. The range for ethanol prices is fixed between Rs 48.5 to Rs 49.5 per litre which is higher than prices stated by the food ministry of around Rs 42 per litre. ISMA told CNBC-TV18 that the sugar industry will see better realizations with the new price.

11:00

GAIL, L&T, Tata Motors, Infosys and ICICI Bank are losers in the Sensex. Among the gainers are BHEL, Bajaj Auto, M&M, Sun Pharma and TCS.

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10:00

Shares of Infosys, ICICI Bank, Larsen & Toubro, Tata Motors, State Bank of India, ONGC, Axis Bank, Dr Reddy's Labs, Gail India, Sesa Sterlite and NTPC lost 1-2.5 percent. Index heavyweights Reliance Industries and ITC declined over 0.5 percent.

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09:15

GAIL is down 2 percent while Tata Motors, ONGC, Dr Reddy's Labs and Infosys are major losers in the Sensex. Among the gainers are Sun Pharma, M&M, Bharti Airtel and HDFC.

Read More »

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