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Friday, 19 September 2014

Nifty struggles below 8150; IT & pharma lead

The market is flat with the Nifty struggling below 8150. The 50-share index is up 6.00 points at 8120.75. The Sensex is up 15.01 points at 27127.22. About 1393 shares have advanced, 1427 shares declined, and 97 shares are unchanged. 

Defensive buying is seen in IT and pharma stocks. TCS, Cipla, Sun Pharma. Infosys and Wipro are top gainers in the Sensex while L&T, HUL, SBI and Axis Bank are major laggards.

 JP Power is under pressure as reports suggest that the company's Khar-Cham Wangdoo project has breached rules on installed capacity. This could impact its deal with Reliance Power and hurt their debt reduction plans.

 Saurabh Mukherjea of Ambit Capital says that the local investor appetite in the last couple of months has been very strong and that they are seeing investment pick up from mutual funds & retail investors.

The 307-old union with United Kingdom continues as Scotland votes a resounding 'no' to independence. The pound has been firm ,trading at a 2-week high against the dollar & 2-year high against the euro. More information please visit site

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