Sensex, Nifty, Midcap under pressure; Tata Motors, L&T weak-- 15 Sep 2015

The broader markets, too, caught in bear grip with the BSE Midcap and Smallcap indices falling 0.6 percent and 0.3 percent, respectively. About 970 shares have advanced, 1279 shares declined, and 89 shares are unchanged on the BSE.

                                     

The market gave up early morning gains to trade half a percent lower. The 30-share BSE Sensex fell 123.17 points to 25733.53 and the 50-share NSE Nifty declined 47.55 points to 7824.70. The broader markets, too, caught in bear grip with the BSE Midcap and Smallcap indices falling 0.6 percent and 0.3 percent, respectively. About 970 shares have advanced, 1279 shares declined, and 89 shares are unchanged on the BSE. Asian markets traded mixed as cautious sentiment ahead of the Fed meet prevails. Japan's Nikkei pared gains after Bank of Japan maintained its expansionary monetary policy at an annual pace of 80 trillion yen. Maruti gained over 1 percent after RBI gave a nod for FIIs to invest upto 40 percent in the company against 24 percent earlier. Analysts say this will now pave way for additional free float, and hence inclusion in the MSCI. Power Finance Corporation rose over 1 percent after Power Minister Piyush Goyal says that the government is working on a structure to reduce discom debt and is committed to bringing down discom losses in next 2-3 years. Gujarat Gas re-listed on the exchnages today after amalgamation of its various subsidiaries with itself. The stock re-listed at a discount but Deutsche Bank sees any sharp decline in the stock as a buying opportunity. L&T, ICICI Bank, Tata Motors, Axis Bank, Tata Steel, Hero Motocorp, Vedanta and Hindalco Industries dropped 1-4 percent.

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