Sensex, Nifty remain under pressure; RIL, ICICI, Axis drag --- 8 Oct 2015

ITC (-3 percent), Idea Cellular (-2 percent), Reliance Industries (-2 percent) and Axis Bank (-2 percent) were big losers in the Nifty. Other laggards in the index were TCS (-1.2 percent), HDFC (-1 percent), Lupin (-1 percent), Sun Pharma (-1 percent) and M&M (-1 percent).


                               

The market remained under pressure after 6-day of rally. The Sensex declined 209.98 points to 26825.87 and the Nifty fell 53.95 points to 8123.45. ITC (-3 percent), Idea Cellular (-2 percent), Reliance Industries (-2 percent) and Axis Bank (-2 percent) were big losers in the Nifty. Other laggards in the index were TCS (-1.2 percent), HDFC (-1 percent), Lupin (-1 percent), Sun Pharma (-1 percent) and M&M (-1 percent). Gainers included Adani Ports (2 percent), UltraTech Cement (2 percent), Hindalco (1 percent) and HCL Tech (1 percent). In sectoral performance as reflected by the respective indices, FMCG (-1.1 percent), healthcare (-0.8 percent), bank (-0.6 percent) and oil & gas (-0.6 percent) were under pressure, while consumer durables (0.7 percent) and metals (0.4 percent) gained. Glenmark (-4 percent), Mindtree (-4 percent), Divis Labs (-4 percent), Century Textiles (-3 percent) and Indiabulls Housing (-3 percent) were big losers in midcap space. Other notable laggards included Sun Pharma Advanced (-2 percent), Hindustan Zinc (-2 percent), HDIL (-3 percent), IRB Infra (-3 percent) and Torrent Pharma (-3 percent). Market breadth was positive, with nearly two stocks rising for every one which fell. The rupee was quoting at 65.07 to the dollar, down 9 paise over its previous close. European shares were mostly higher with Germany’s DAX up 42 points at 10013, France’s CAC up 13 points at 4681, and UK’s FTSE down 4 points at 6331. The trend in key Asian markets was broadly bearish. Singapore’s Straits Times was down 14 points at 2947. Japan’s Nikkei 225 closed at down 181 points or 1 percent over its previous close, Hong Kong’s Hang Seng closed at 22354, down 160 points, and Taiwan’s Taiwan Index closed at 8445, down 49 points. In gainers, China’s Shanghai closed at 3144, up 91 points or 3 percent, and Korea’s KOSPI closed at 2018, up 13 points. 

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