The market is completely in bear grip as capital goods and technology stocks shed heavily. The Sensex is down 168.45 points or 0.6 percent at 28631.24 and the Nifty is down 60.60 points or 0.7 percent at 8689.60.About 890 shares have advanced, 1766 shares declined, and 144 shares are unchanged. Buoyed up by global oil prices hitting 2015 high, Oil & Gas index is in green, up 0.5 percent while rest of the indices are under selling pressure. ONGC, Bharti Airtel, M&M, SBI and HDFC are top gainers in the Sensex. On the losing side are Hero MotoCorp, Sun Pharma, Sesa Sterlite, Cipla and Wipro. Unilever reported better-than-expected sales for the first quarter on Thursday, showing improvement from the hammering it took last year from weak emerging markets including a slowdown in China.
The rupee slipped by 2 paise at 62.38 against the US dollar in the late noon trade following bouts of demand for dollar from importers amid volatile equities.
Bank stocks have declined across the exchange. ICICI Bank, HDFC Bank, SBI, Axis Bank have dipped between 0.3-1%.
Tata Steel has dropped nearly 1%o after the company said that its crude steel production fell 1.45% to 2.44 million tonnes in Q4 March 2015 over Q4 March 2014. Its peer Sesa Sterlite is trading lower by 3%.
Pharma stocks are witnessing profit-booking in today’s trade. Lupin has lost over 3% after its rival Aurobindo Pharma got a nod from US Food and Drug Administration (USFDA) to make and sell its generic version of oral suspension of antibiotic Cefixime.
Cipla, Sun Pharma and Dr Reddy's Labs are also trading 1.5-3% lower.
The IT stocks have declined on the back lacklustre US economic data. Also, the stocks are facing pressure on caution ahead of TCS's results which will be announced post the market hours today. Infosys, Wipro, TCS are trading lower up to 2%.
The rupee slipped by 2 paise at 62.38 against the US dollar in the late noon trade following bouts of demand for dollar from importers amid volatile equities.
Bank stocks have declined across the exchange. ICICI Bank, HDFC Bank, SBI, Axis Bank have dipped between 0.3-1%.
Tata Steel has dropped nearly 1%o after the company said that its crude steel production fell 1.45% to 2.44 million tonnes in Q4 March 2015 over Q4 March 2014. Its peer Sesa Sterlite is trading lower by 3%.
Pharma stocks are witnessing profit-booking in today’s trade. Lupin has lost over 3% after its rival Aurobindo Pharma got a nod from US Food and Drug Administration (USFDA) to make and sell its generic version of oral suspension of antibiotic Cefixime.
Cipla, Sun Pharma and Dr Reddy's Labs are also trading 1.5-3% lower.
The IT stocks have declined on the back lacklustre US economic data. Also, the stocks are facing pressure on caution ahead of TCS's results which will be announced post the market hours today. Infosys, Wipro, TCS are trading lower up to 2%.
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