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Tuesday, 16 September 2014

Nifty slips below 8000; banks, oil, auto stocks dragNi

Nifty Slip

The market is slipping further as investors are cautious on a possible hawkish shift in the US Federal Reserve's policy stance as the Fed begins a two-day policy meeting later in the day. The Nifty is down 53.45 points or 0.6 percent at 7988.55 and the Sensex slips 150 points at 26666.56. About 977 shares have advanced, 1824 shares declined, and 95 shares are unchanged.

Oil, bank and auto stocks are dragging the indices. Axis Bank, ONGC, SBI, Tata Motors and Coal India are major laggards in the Sensex. Both midcap and smallcaps are slaughtered, down 3 and 2 percent respectively. 

Britain promised to guarantee Scotland's high levels of state funding, granting Scots control over healthcare spending in a last-ditch attempt to shore up support for the United Kingdom before Thursday's vote on independence.

With polls showing the decision on the fate of the United Kingdom is too close to call, welfare spending and the future of Britain's revered National Health System have formed a central part of nationalist Alex Salmond's case for secession.

In a deal brokered by former Labour Prime Minister Gordon Brown, the leaders of Britain's three main political parties said they would retain the funding equation that sustains a higher level of public spending north of the border. More Information Please visit Site

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