Market Watch

Monday 27 April 2015

Stock Market Down Selling Pressure on Market



Nifty drifts below 8250, Sensex slips; SBI falls, ITC up
Selling pressure mounts on the market. The Nifty is down 74.10 points or 0.9 prcent at 8231.15 as the the 50-share index is below its 200-day moving average for the first time in nearly 15 months. The Sensex is down 190.69 points or 0.7 percent at 27247.25. About 432 shares have advanced, 1719 shares declined, and 123 shares are unchanged.
Dr Reddy's Labs, Cipla, BHEL, Sun Pharma and SBI are major losers in the Sensex. Among the gainers are NTPC, Vedanta, ITC, Tata Motors and Bharti Airtel.
Asian shares scaled seven-year highs following stellar earnings from a few US hi-tech giants, but investors were cautious ahead of central bank meetings this week in the US and Japan and on deadlock in creditors' talks with Greece. Red-hot mainland Chinese shares soared, with Shanghai composite index rising 2.1 percent to seven-year highs on hopes of more monetary stimulus and launch of infrastructure projects linked to China's "Modern Silk Road" plan.
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