SENSEX EXTENDS LOSSES, NIFTY BREAKS 8100; TATA MOTORS DRAGS

The market extended losses in afternoon trade, dragged by banks, FMCG, auto and metals stocks. The Sensex lost 172.64 points to 26664.56 and the Nifty declined 45.85 points to 8089.25. About 1080 shares have advanced, 1316 shares declined, and 142 shares are unchanged on the BSE.
The rupee is trading at 64.14 to the US dollar compared to the previous close after foreign funds turned net sellers in domestic equities tracking overseas gains in the US currency.
All sectoral indices were in the red with BSE Metal index emerging as the top loser down 2% followed by Consumer Durables and Healthcare among others.
ICICI Bank was down over 3%. The stock is quoted ex-dividend from today, 4 June 2015, for dividend of Rs 5 per share for the year ended 31 March 2015.
The fears of drought and its impact on the rural economy seem to be weigh on the FMCG sector with ITC down over 1% while Hindustan Unilever slipped 0.8%.
Auto shares continued to witness profit taking as analysts have started lowering earnings estimates on concerns that weak monsoon could hurt volume growth. Tata Motors was down 2% after the company reported lower Jaguar sales in May 2015 at 168 units compared with 375 units in May 2014. M&M, Hero MotoCorp, Maruti Suzuki and Bajaj Auto were down 0.1-2% each.
The information technology sector has gained nearly 1% on the back of depreciation in rupee. Wipro and Infosys have gained 0.4-1.5% each while TCS pared early gains and was down 0.4%.
Cipla was down 1%. The company has received approval from United States Food & Drug Administration (USFDA) for an innovative formulation Lopinavir/ritonavir (LPV/r) 40mg/10 mg oral pellets  for pediatric specific treatment for infants.
Axis Bank is up 0.4% after RBI announced that the restrictions placed on the buying of shares of Axis Bank by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) have been withdrawn with immediate effect.
Other gainers include, Reliance Industries and engineering major L&T.
Among other shares, shares of Mukand were up over 5% at Rs 39 on the Bombay Stock Exchange after the company in a release today said that the Corporate Debt Restructuring Empowered Group confirmed the exit of the account of Mukand from corporate debt restructuring mechanism.
Shares of GPT Infraprojects were up over 3% at Rs 97 on the Bombay Stock Exchange after the company announced that it has won orders from Damodar Vallery Corporation.
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