The market is slipping further. The Sensex is down 248.92 points or 0.9 percent at 26519.57, and the Nifty is down 76.05 points or 0.9 percent at 8038.65. About 702 shares have advanced, 1748 shares declined, and 151 shares are unchanged. M&M, Tata Power, Coal India, Axis Bank and Bajaj Auto are top gainers while Vedanta, Tata Steel, Tata Motors and HDFC are major laggards in the Sensex.
Barring capital goods, all other sectoral indices are trading lower.
Among the rate sensitive sectors, BSE Realty, Auto and Bankex were down
0.7-1% each.Vedanta has lost over 2% on the Sensex after, its subsidiary and one of the largest independent oil and gas exploration and production companies in India, Cairn India dropped over 3% on further decline in crude oil prices.
Tata Motors extended losses and was down over 2% on the back of weak Jaguar sales in May. The company reported lower Jaguar sales in May 2015 at 168 units compared with 375 units in May 2014.
Other notable losers include index heavyweights HDFC, Reliance Industries and Infosys were down 0.6-1.6% each while Sun Pharma was down 1.6% on the BSE.
Coal India is the highest gainer on the Sensex, up by 1.6%. The government has decided to auction coal linkages for non-regulated sectors, which constituted for about 12% of Coal India’s FY15 production.
Other notable gainers on the Sensex are L&T, Axis Bank, and Tata Power, all gaining nearly 1% each.
Among other shares, Wockhardt have slipped over 3% after the company recalled over 200 bottles of Captopril tablets, used in treatment of blood pressure, and Clarithromycin antibiotic tablets manufactured in the US because of deviations in current good manufacturing practice norms stated by US Food and Drug Administration (FDA).
Sun TV has tanked 26% on the NSE on reports that the Ministry of Home Affairs (MHA) has struck down the proposal by the Information and Broadcasting (I&B) Ministry for giving security clearance to 33 television channels of Sun TV Network.
Bank of Baroda dipped 4.5% to Rs 153 on the Bombay Stock Exchange (BSE) after the bank revised its rate of interest payable on term deposits.
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