Sensex cracks 300 pts, Nifty opens below 7700 on China rout Tata Motors, Hindalco Industries, Adani Ports, Tata Steel, Axis Bank, Vedanta and Adani Ports plunged 3-4 percent.
The Sensex is down 347.75 points or 1.4 percent at 25058.58 and the Nifty slips 111 points or 1.4 percent at 7630. About 354 shares have advanced, 1620 shares declined, and 50 shares are unchanged. Tata Motors, Tata Steel, Hindalco, Maruti and BHEL are major laggards in the Sensex. Among the gainers are Lupin, GAIL and Bharti
For More Stock Trading Tips Visit to us at:www.capitalheight.com/stock-tips.php
Indian Rupee Update
The Indian rupee opened marginally lower at 66.86 per dollar on Thursday against previous close of 66.82.The USD-INR is expected to trade in a range of 66.65-66.95/dollar today
INDIAN MARKET OVERVIEW
Equity benchmarks continued southward journey for the third consecutive session Wednesday on global weakness post nuclear weapons test by North Korea and sharp correction in crude oil prices. Nifty future down 52 points at 7750.
The 30-share BSE Sense down 174 points at 25406. The market breadth was weak as about 1409 shares advanced against 1509 declining shares on the BSE.
Government decided to close three unviable units of HMT including the once popular HMT Watches, along with HMT Chinar Watches and HMT Bearings, by offering an "attractive" VRS to the employees as per 2007 pay scales.
Cadila Healthcare gained 2 percent as Credit Suisse upgraded stock to outperform from underperform and raised target to Rs 405 from Rs 360 earlier despite USFDA warning letter.