VOLATILE NIFTY HOLDS 8450; RIL, EICHER MOTORS MOST ACTIVE

After a steady day, the market ended in red. The Sensex was down 75.07 points or 0.3 percent at 27945.80, and the Nifty slipped 8.15 points or 0.1 percent at 8444.90. About 1499 shares advanced, 1271 shares declined, and 153 shares were unchanged. Tata Motors, Hindalco, Cipla, ONGC and Vedanta were major laggards in the Sensex. Among the gainers were M&M, Bharti Airtel, Bajaj Auto, Hero MotoCorp and Axis Bank.
Sectorally, BSE Oil and Gas index is leading the rally, nearly up by 1% followed by FMCG and Auto sectors. The downward trend is seen in BSE IT, Metals, and Consumer Durables indices.
Bharti Airtel is set to launch full mobile number portability (MNP) from tomorrow, which will allow customers to retain their numbers across the country. The stock has surged over 2% on the Sensex.
Reliance Industries has gained 0.8% on the BSE after the company decided to invest over Rs 250,000 crore in the digital space, contributing to Digital India initiative by the Prime Minister.
Auto pack has gained on the back of strong June sales figures. M&M, Bajaj Auto, and Hero Motocorp have all gained between 0.5- 2% each on the Sensex. Tata Motors has, however, witnessed some profit-booking and is down nearly 2%
FMCG stocks gained on hopes that normal monsoon rains would help boost rural volumes. HUL has gained 0.5% while ITC is flat with positive bias.
IT stocks are trading down after reports that global IT spending is likely to decline. Also, the ongoing development in Greece has raised caution. Infosys and TCS are down 1.1% and 0.3% respectively, while Wipro is up 1.1%

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