Sunday 6 September 2015

Nifty hovers around 7700, Sensex up over 100 pts; Cipla up -- 7 Sep 2015

Tata Motors, HDFC, Cipla, Vedanta and Tata Steel are top gainers while Bharti, GAIL, M&M, Wipro and ICICI Bank are laggards in the Sensex.

                                                       
The Sensex is up 106.48 points or 0.4 percent at 25308.38 and the Nifty gains 42.15 points or 0.5 percent at 7697.20. About 717 shares have advanced, 420 shares declined, and 48 shares are unchanged.Tata Motors, HDFC, Cipla, Vedanta and Tata Steel are top gainers while Bharti, GAIL, M&M, Wipro and ICICI Bank are laggards in the Sensex. Don't miss: All weather stocks: 11 large caps to buy on market crash After initial gains, the market has slipped into red quickly. The Sensex is down 6.57 points  at 25195.33 and the Nifty is down 7.50 points at 7647.55. About 398 shares have advanced, 256 shares declined, and 46 shares are unchanged. GAIL,  Bharti, NTPC, BHEL and Sun Pharma are top losers while Tata Motors, Vedanta, Cipla, Tata Steel and ITC are top gainers in the Sensex. The Indian rupee slipped by 14 paise in early trade. It has opened at 66.60 per dollar against Friday's closing value of 66.46 a dollar. Agam Gupta of StanChart Bank feels the USD-INR should open slightly higher near 66.60-66.65/dollar due to the negative sentiment in European and US stock markets. According to him, it should trade in a range of 66.35-66.85/dollar for the day. Globally, US stocks closed more than 1 percent lower ahead of a long weekend on Friday as uncertainty about the timing of a rate hike and Chinese economic growth continued to weigh. The country's unemployment stood at a 7-year low, despite the August non-farm payrolls coming in way below estimates. Asian shares saw recovering in early trade. China's Shanghai Composite reversed a brief negative open to surge 1.7 percent within 15 minutes of opening. Crude prices declined as traders shrugged off a drop in the number of US rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street. Precious metal gold's prices continued to fall, trading at around USD 1120 an ounce.

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