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Thursday, 16 October 2014

Sensex struggles at 26000; banks, FMCG, capital goods gain

11:30am Interview
 
Print media major DB Corp expects its Maharashtra business to become profitable by March this fiscal, Pawan Agarwal, deputy managing director at DB Corp said in an interview to CNBC-TV18. 

Agarwal said the Bihar business was doing well and the company was maintaining its leadership position in the Patna newspaper market.

 He expressed hope that reforms by the government to revive the economy would help the company grow in the current half of this fiscal. 

11:00am Market Check
 
The market remained lacklustre ahead of Maharashtra and Haryana Assembly elections results in the weekend. The Sensex declined down 29.09 points to 25970.25 and the Nifty slipped 7.20 points to 7741.

 The broader markets too were down with the BSE Midcap and Smallcap indices falling 0.2-0.3 percent. About 916 shares have advanced, 1252 shares declined, and 85 shares are unchanged on the Bombay Stock Exchange.

 Banking and financials, capital goods and FMCG stocks saw buying interest while oil & gas, metals and select technology stocks were under pressure. 

TCS kept its position in the selling list, down nearly 8 percent followed by Sesa Sterlite, Tata Motors and Hindalco Industries with a 3 percent loss. However, ITC, ICICI Bank, M&M, L&T, Bharti Airtel, SBI, BHEL and Axis Bank gained 1-3 percent. 

In the midcap space, Shoppers Stop, NBCC, Responsive Industries, Alstom T&D and Trent surged 3-6 percent while CMC tanked 14 percent post the boards of directors of company and TCS announced merger of both companies. Atul, Rallis India, Amtek Auto and Trinity Trade lost 5-10 percent. More information please visit this site www.bigprofitbuzz.com

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