Tuesday 22 September 2015

Sensex, Nifty recover; Tata Motors, BHEL, HDFC fall 1-2% -- 23 Sep 2015

Shares of HDFC, Tata Motors, Wipro, ONGC and Bajaj Auto slipped 1-2 percent while ITC, HDFC Bank, Infosys, M&M, NTPC, ICICI Bank and Coal India gained 0.2-1 percent.

                                               
The market recovered nearly 1 percent from day's low. The 30-share BSE Sensex declined 11.82 points to 25640.02 and the 50-share NSE Nifty slipped 18 points to 7794. The broader markets also recouped early losses to trade flat. Globally, Asian markets remained under pressure on renewed China woes. A preliminary reading of China's mammoth manufacturing sector fell to a six-and-half-year low of 47 in September, rekindling worries over the world's second-largest economy. Ruchir Sharma of Morgan Stanley said he sees signs of the global economy being close to a recession. Larsen and Toubro recouped early losses to trade flat. The stock fell 2 percent in early trade after ICRA downgraded term loans for two SPVs due to delays in debt servicing. The company told CNBC-TV18 that the downgrade of term loan due to regulatory issues, not liquidity. BHEL dropped 2 percent after CRISIL revised outlook on long-term bank facilities lower. Shares of HDFC, Tata Motors, Wipro, ONGC and Bajaj Auto slipped 1-2 percent while ITC, HDFC Bank, Infosys, M&M, NTPC, ICICI Bank and Coal India gained 0.2-1 percent.

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