Monday 12 October 2015

Sensex, Nifty volatile; BoB dives, Vedanta & Hindalco rally -- 12 Oct 2015

The broader markets outperformed benchmarks; the BSE Midcap and Smallcap indices gained more than 0.3 percent. The market breadth was also positive as about 1288 shares advanced against 1085 declining shares.

                                       
The Sensex fell 36.07 points to 27043.44 and the Nifty declined 7.35 points to 8182.35. However, the broader markets outperformed benchmarks; the BSE Midcap and Smallcap indices gained more than 0.3 percent. The market breadth was also positive as about 1288 shares advanced against 1085 declining shares. Infosys slipped 2.5 percent on profit taking. The IT company has reported dollar revenue growth of 6 percent, the highest in 16 quarters. It has maintained its FY16 revenue guidance in constant currency terms. Vishal Sikka, MD & CEO said second half of the financial year will be challenging due to seasonality and client specific issues. Bank of Baroda topped the selling list on Nifty, down 4 percent as the CBI carried out searches at a bank's branch in connection with alleged Rs 6,000 crore black money transfer. The bank does not foresee any financial loss on account of these raids. HDFC, TCS, Lupin, HUL and Cipla declined 1-2 percent while Vedanta and Hindalco were biggest gainers on Sensex, up 9 percent and 6 percent, respectively. Tata Motors, Reliance Industries, ICICI Bank, ONGC, Tata Steel and GAIL gained 1-2.5 percent.

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