The market is absolutely flat as weak global cues, the recent streak of FII selling and impact of the Supreme Court verdict on coal blocks remains an overhang. The Sensex is up 2.96 points at 26471 and the Nifty is down 0.35 points at 7911.50. About 1148 shares have advanced, 1182 shares declined, and 77 shares are unchanged. Sun Pharma is up 6 percent, reversing its early morning losses reacting to a Credit Suisse note that says the comoany has received the form 483 for the Halol plant. It lists 23 observations with no data integrity issues. Hence chances of an import alert are low now. Hindalco, ONGC, Tata Steel and M&M are top gainers in the Sensex. Among the losers are HDFC, Coal India, Sesa Sterlite, TCS and Hero MotoCorp. Globally, Asian markets are mostly weak reacting to the US sell off. The dollar is at near-four-year highs against a basket of major currencies. Month-end dollar demand from importers also hurting the rupee.
Friday 26 September 2014
HDFC, Sesa Sterlite, Hero laggards; Sensex, Nifty flat
The market is absolutely flat as weak global cues, the recent streak of FII selling and impact of the Supreme Court verdict on coal blocks remains an overhang. The Sensex is up 2.96 points at 26471 and the Nifty is down 0.35 points at 7911.50. About 1148 shares have advanced, 1182 shares declined, and 77 shares are unchanged. Sun Pharma is up 6 percent, reversing its early morning losses reacting to a Credit Suisse note that says the comoany has received the form 483 for the Halol plant. It lists 23 observations with no data integrity issues. Hence chances of an import alert are low now. Hindalco, ONGC, Tata Steel and M&M are top gainers in the Sensex. Among the losers are HDFC, Coal India, Sesa Sterlite, TCS and Hero MotoCorp. Globally, Asian markets are mostly weak reacting to the US sell off. The dollar is at near-four-year highs against a basket of major currencies. Month-end dollar demand from importers also hurting the rupee.
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