Tuesday 3 November 2015

Nifty struggles below 8100, Sensex up; HUL & Hero gain 1% -- 4 Nov 2015

Tata Motors is still up 6 percent while Bajaj Auto, M&M, HUL and Hero MotoCorp are top gainers while GAIL, Axis Bank, TCS, Bharti Airtel and ICICI Bank are laggards.

                                     
The market has cooled off a bit from early gains as the Nifty struggles below 8100. The 50-share index is up 18.65 points or 0.2 percent at 8079.35. The Sensex is up 99.24 points or 0.4 percent at 26689.83. About 1334 shares have advanced, 813 shares declined, and 110 shares are unchanged. Tata Motors is still up 6 percent while Bajaj Auto, M&M, HUL and Hero MotoCorp are top gainers while GAIL, Axis Bank, TCS, Bharti Airtel and ICICI Bank are laggards. The rupee pared its initial gains, but was still higher by 6 paise to 65.58 against the US currency in late morning trade on sustained bouts of dollar selling by banks and exporters. The Indian rupee opened higher at 65.56 as against yesterday's level of 65.64 at the Interbank Foreign Exchange (Forex) market. It hovered in the range of 65.52 to 65.62 per dollar during the morning deals, before quoting at 65.58 at 1030 hours. The dollar index is currently trading up by 0.13 percent at 97.31 against a basket of six currencies. "The weakness in the rupee yesterday was due to dollar strengthening against major currencies and dollar demand by custodial banks, expect the same trend to continue today," says a forex dealer. Oil prices were flat in Asia early trade as investors weighed US petroleum industry data showing a build-up in crude stockpiles and news that shipments from a Libyan port were halted due to tensions.

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