ICICI Bank, HDFC, Axis Bank, State Bank of India, Tata Motors, HUL, BHEL, Coal India and Vedanta dropped 1-2 percent. However, Mahindra & Mahindra, Bharti Airtel, Dr Reddy's Labs and Hindalco Industries gained 1 percent each.
Shares of Spicejet today surged over 5 percent amid reports that two Gulf airlines have approached the company for buying a stake in the domestic firm. Following the buzz, the stock rose by 5.22 percent to Rs 23.15 on BSE. According to media reports, two big Gulf airlines have approached Ajay Singh-promoted SpiceJet for buying a stake in the airline.
The market remained in a negative terrain with the Nifty struggling below 8600, dragged banking & financials, FMCG and capital goods stocks. The broader markets continued to outperform benchmarks marginally and the market breadth remained in favour of advances with the ratio of 1339:1187. The Sensex declined 132.07 points to 28331.24 and the Nifty fell 43.40 points to 8566.45. ICICI Bank, HDFC, Axis Bank, State Bank of India, Tata Motors, HUL, BHEL, Coal India and Vedanta dropped 1-2 percent. However, Mahindra & Mahindra, Bharti Airtel, Dr Reddy’s Labs and Hindalco Industries gained 1 percent each. Oil prices edged lower today as data showed Saudi Arabian exports fell to the lowest in five months despite record output, while a resurgence in US drilling activity seen earlier this month seemed to fizzle out. Both international and US crude futures posted their third consecutive weekly losses last week on expectations of increased exports from Iran following a deal to ease sanctions against the OPEC producer. Brent September crude declined 0.16 percent to USD 57.01 a barrel.
For More Detail Visit — http://www.allianceresearch.in/
The market remained in a negative terrain with the Nifty struggling below 8600, dragged banking & financials, FMCG and capital goods stocks. The broader markets continued to outperform benchmarks marginally and the market breadth remained in favour of advances with the ratio of 1339:1187. The Sensex declined 132.07 points to 28331.24 and the Nifty fell 43.40 points to 8566.45. ICICI Bank, HDFC, Axis Bank, State Bank of India, Tata Motors, HUL, BHEL, Coal India and Vedanta dropped 1-2 percent. However, Mahindra & Mahindra, Bharti Airtel, Dr Reddy’s Labs and Hindalco Industries gained 1 percent each. Oil prices edged lower today as data showed Saudi Arabian exports fell to the lowest in five months despite record output, while a resurgence in US drilling activity seen earlier this month seemed to fizzle out. Both international and US crude futures posted their third consecutive weekly losses last week on expectations of increased exports from Iran following a deal to ease sanctions against the OPEC producer. Brent September crude declined 0.16 percent to USD 57.01 a barrel.
For More Detail Visit — http://www.allianceresearch.in/
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