Sensex, Nifty continue to struggle; telecom under pressure -- 16 Oct 2015

NTPC, Maruti, Tata Motors, L&T and TCS are top gainers while Bharti Airtel, Lupin, ONGC, ICICI Bank and Coal India are losers in the Sensex.

                             

The Sensex is down 53.85 points or 0.2 percent at 26956.29 and the Nifty slips 13.10 points or 0.2 percent at 8166.40. About 990 shares have advanced, 736 shares declined, and 109 shares are unchanged. NTPC, Maruti, Tata Motors, L&T and TCS are top gainers while Bharti Airtel, Lupin, ONGC, ICICI Bank and Coal India are losers in the Sensex. Gold hovered below a 3.5-month high after strong US inflation data supported the dollar, but the metal was set to post its biggest weekly jump in four weeks on bets the Federal Reserve will not hike interest rates this year. Gold was on track for a 2-percent weekly jump as markets believe recent weak US data in the backdrop of sluggish data out of China would prompt the Fed to stand pat on rates until next year.Gold benefits from low interest rates that cut the opportunity cost of holding non-yielding assets.


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