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Tuesday, 23 September 2014

Sensex, Nifty under pressure; ITC & HUL gain, Hindalco weak

The market is struggling to hold its feet firm. The Sensex is down 34.43 points at 26741.26 and the Nifty slips 12.50 points at 8005.05. About 721 shares have advanced, 1652 shares declined, and 60 shares are unchanged.

HUL, Coal India, Wipro, M&M and ITC are top gainers in the Sensex while Tata Power, BHEL, L&T, Tata Steel and HDFC.

 JSPL and Hindalco are key stocks in focus as the Supreme Court will announce its verdict in the coal block allocation case today. Hindalco has also been downgraded by Macquarie to neutral from outperform as it sees no near term catalyst.

Gold clung to overnight gains as Asian shares retreated, but investors remained cautious amid a firmer dollar and upbeat US manufacturing data that kept prices near their lowest since January.

US-led strikes against militants in Syria failed to spur follow-through safe-haven demand for gold after small gains. Gold is traditionally seen as a safer bet during times of political uncertainty. The tensions in Syria, however, curbed appetite for risky assets, sending Asian shares lower. More information please visit site

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