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Tuesday, 28 October 2014

Sensex, Nifty sluggish; Reliance, Bharti, HUL fall 1-2%

It is another day of sluggishness on Dalal Street as the benchmark indices do not make any remarkable gain. The Sensex is up 42.91 points at 26795.81 and the Nifty is up 14.95 points at 8006.65.  About 1262 shares have advanced, 1295 shares declined, and 120 shares are unchanged.

GAIL, SBI, Sun Pharma, Tata Power and ICICI Bank are top gainers in the Sensex. Among the losers are Hero, Bharti Airtel, HUL, Bajaj Auto and Reliance.

Asian equities trade mixed. Investors tread cautiously ahead of the Federal Reserve meeting due to begin later today.

Brent crude extended its decline to a third day, dropping towards USD 85 a barrel, still under pressure from a Goldman Sachs report that slashed the investment bank's oil price forecasts amid a global supply glut.
Citing rising production and insufficient demand, Goldman Sachs on Sunday cut its forecast for Brent to USD 85 a barrel from USD 100 for the first quarter of 2015 and reduced its projection for US crude to USD 75 from USD 90.

Analysts from other major banks have also cut forecasts for 2014 and 2015 crude oil prices, citing global growth concerns, a strengthening dollar and ample supplies. More information please visit this site

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