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Sunday, 7 December 2014

Sensex, Nifty consolidate; 10-year 8.4% bond at life high

Equity benchmarks continued to consolidate with the Sensex falling 38.12 points to 28419.98 and the Nifty slipping 14.30 points to 8524. The broader markets outperformed benchmarks with marginal gains. The BSE Midcap and Smallcap indices gained 0.3 percent each.

The market breadth was positive. About 1125 shares have advanced while 766 shares declined on the Bombay Stock Exchange. The 10-year 8.4 percent 2024 bond traded at life high of Rs 103.18, up 0.11 percent compared to Friday's closing value.

Shares of Infosys topped the selling list, falling more than 3 percent after block deals wherein founders may have sold shares worth USD 1.1 billion. Sesa Sterlite fell 1 percent as brokerage house Bank of America Merrill Lynch has cut its earnings estimates for the metal and mining major, and also the price target, citing falling crude and iron ore prices.

Among others, TCS lost 1.7 percent followed by Dr Reddy's Labs, L&T, M&M, HDFC Bank, Hero Motocorp, SBI and Hindalco were down 0.3-1 percent.

However, Coal India gained 2 percent. Media report suggested that the coal mining company asked government to return 2 cancelled Odisha blocks. Shares of ITC, HDFC, Sun Pharma, ONGC, Bharti Airtel, Axis Bank, Maruti Suzuki and Tata Power advanced 0.5-1 percent. More information please visit this site www.bigprofitbuzz.com

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