ECONOMY ANALYSIS
High-beta trade unwinds as Nifty ends below 8400
Telcos in focus; DoT to split 2G, 3G, 4G spectrum auctions
Franklin Templeton buys 3.34 lakh shares of Shakti Pumps
Govt seeks suggestion on draft Mines & Mineral Bill
Draft rules for coal block e-auctions likely today
Hindalco up 3%; Goldman Sachs bullish on its Novelis biz
MARKET ANALYSIS
Markets sold off in late trade, with the Nifty falling below 8,400 while the
Sensex tested the 28,000 mark, before closing above it. At close, the
Sensex was down 0.46 percent, or 130 points, to 28,032 while the Nifty
was off 0.52 percent, or 44 points, to 8,382.
The sell-off was largely broad-based but stocks that had run-up the most
recently fell the most.
High-beta shares such as metals and oil & gas witnessed 1 percent plus
down move. Mid and small cap stocks have 0.6 percent. Logistics shares,
which have risen manifold over the past one year saw ferocious selling,
with stocks losing 6 to 10 percent. FMCG and IT were the only pockets
that stood up in the decline.
FMCG and IT were the only pockets that stood up in the decline.
High-beta trade unwinds as Nifty ends below 8400
Telcos in focus; DoT to split 2G, 3G, 4G spectrum auctions
Franklin Templeton buys 3.34 lakh shares of Shakti Pumps
Govt seeks suggestion on draft Mines & Mineral Bill
Draft rules for coal block e-auctions likely today
Hindalco up 3%; Goldman Sachs bullish on its Novelis biz
MARKET ANALYSIS
Markets sold off in late trade, with the Nifty falling below 8,400 while the
Sensex tested the 28,000 mark, before closing above it. At close, the
Sensex was down 0.46 percent, or 130 points, to 28,032 while the Nifty
was off 0.52 percent, or 44 points, to 8,382.
The sell-off was largely broad-based but stocks that had run-up the most
recently fell the most.
High-beta shares such as metals and oil & gas witnessed 1 percent plus
down move. Mid and small cap stocks have 0.6 percent. Logistics shares,
which have risen manifold over the past one year saw ferocious selling,
with stocks losing 6 to 10 percent. FMCG and IT were the only pockets
that stood up in the decline.
FMCG and IT were the only pockets that stood up in the decline.
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