Sensex, Nifty off day's high; rupee hits 65/$, metals down -- 13 Aug 2015

Cipla, Lupin, Bharti, M&M and Hero are top gainers while Tata Steel, Vedanta, Hindalco abd GAIL are among losers.


                                       

The market is still steady even though rupee has weakened. The Sensex is up 94.63 points or 0.3 percent at 27606.89 and the Nifty is up 31.50 points or 0.4 percent at 8380.95.About 1309 shares have advanced, 1160 shares declined, and 133 shares are unchanged. Rupee slipped close to the 65 mark on big dollar buying by corporates and by FIIs. RBI is suspected to have sold at 64.99. Finance Secretary, Rajiv Mehrishi says rate cut will help credit flows, exports and industry. Cipla, Lupin, Bharti, M&M and Hero are top gainers while Tata Steel, Vedanta, Hindalco abd GAIL are among losers. Meanwhile, setting aside the Food Safety and Standards Authority of India (FSSAI) ban order on Nestle's Maggi noodles, the Bombay High Court today told the food authority to justify the ban on six variants of the product. However, Nestle will not be able to sell its marquee product just yet. The court has ruled that preserved samples will now have to be tested in three different labs located in Jaipur, Mohali and Hyderabad in a span of 6 weeks. The company will have to send five samples of each batch to three food testing labs and will not be allowed to either manufacture or sell until the tests are completed.

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