Tuesday 2 July 2013

Sensex slips after 3-day winning streak

At 12:06 PM, Sensex is down 22 points at 19,554, while Nifty is down 21 points at 5,877.

Bharti Airtel, Sterlite Inds, Gail India, Sun Pharma, Tata Steel, ICICI Bank, Hindalco Inds, Maruti Suzuki and HDFC are leading, whereas Jindal Steel, Tata Motors, BHEL, Coal India, Hero MotoCorp, Tata Power, L&T and SBI are seeing some weakness.

Among the sectors, consumer durables, healthcare, metal and oil and gas gain, while realty, capital goods, power, auto, IT, FMCG and banking disappoint.

Rupee opened flat at 59.50 per dollar on Tuesday as against Monday's closing value of 59.52.

US indices ended higher with the Dow adding 0.44%, the Standard & Poor's 500 Index gaining 0.54% and the Nasdaq moving higher by almost a percent. Data from the Institute for Supply Management showed that the US manufacturing activity grew in June with construction spending hitting a near four-year high in May.

Asian markets are mixed. Japan's Nikkei 225 index was trading 0.8% higher and Hong Kong's Hang Seng index was trading 0.58%. South Korea's Kospi index was flat, while China's Shanghai index was marginally down. The yen has appreciated and so has gold. The US crude was steady at $97.95 a barrel.

Stocks In News:

State-run Oil India said it will raise around $900 million debt from overseas markets by October to pay for its acquisition of 4% interest in a gas field in Mozambique. The company stock is trading down 0.03% at Rs. 580.80 per share.

Tata Motors stock is trading down 1.50% at Rs. 285.30 per share after its total passenger vehicle sales in the domestic market declined 31.54%
to 11,804 units in June from 17,244 units in the same month last year.

Mahindra & Mahindra's Farm Equipment Sector tractor sales increased by 18.8% to 26,723 units in the domestic market in June. The company stock is trading up 0.06% at Rs. 983 per share.

Bajaj Auto stock is trading 0.15% lower at Rs. 1,920.30 per share. The country's second largest two-wheeler maker has been suffering a serious decline in production of its products from the Pulsar, Avenger and KTM motorcycles range since June 25 when workers at the Chakan stopped work to press for their demands.


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