Sunday 18 October 2015

Sensex, Nifty consolidate; oil & gas, pharma stocks rally -- 19 Oct 2015

Oil & gas and pharma stocks are leading while banks, capital goods, metals and autos are struggling. Reliance, Bharti, Sun Pharma, Infosys and Cipla are top gainers in the Sensex. Tata Motors, Tata Steel, ONGC, L&T and ICICI Bank are laggards.

                   
The market consolidats with the benchmark indices locked in a range. The Sensex is up 56.24 points at 27270.84. The Nifty is up 6.70 points at 8244.85. About 1345 shares have advanced, 817 shares declined, and 113 shares are unchanged. Oil & gas and pharma stocks are leading while banks, capital goods, metals and autos are struggling. Reliance, Bharti, Sun Pharma, Infosys and Cipla are top gainers in the Sensex. Tata Motors, Tata Steel, ONGC, L&T and ICICI Bank are laggards. Meanwhile,Reserve Bank of India Governor Raghuram Rajan called for stronger multilateral agencies that can steer global coordination in tackling economic and monetary policy issues, adding emerging markets needed to be part of that debate. Raghuram Rajan also called on the International Monetary Fund to be more inclusive and not just driven by the needs of industrialised countries, while noting the agency needed to more closely examine "extreme" policies by global central banks. The RBI governor also urged the need for global "safety nets," while noting one proposal could be foreign exchange swap lines mediated and backed by the IMF.


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