Sensex, Nifty sluggish; Reliance, ONGC, Tata Steel fall 2%

1:30 pm FII view: With Brent crude falling to five year lows below USD 65/100, James Glassman, senior economist at JPMorgan thinks it is a big positive for most developing economies (DEs), including India.

According to him, it would benefit all oil importing nations and would boost their growth. For India per se, he pegs growth at around 5.7 percent for the next year. He is also not overly worried about slowdown in growth for China and says it should not be interpreted as a negative story.

Cut base rate to be competitive; see FPO in '15: Bk of Maha

The market continues to be weak as the Sensex is down 169.97 points at 27661.13. The Nifty is down 44.10 points at 8311.55. About 986 shares have advanced, 1661 shares declined, and 85 shares are unchanged. 

BHEL, Dr Reddy's Labs, M&M, HDFC and Sun Pharma are top gainers while Reliance, ONGC, Tata Steel, Infosys and GAIL are major laggards.

Gold prices were marginally down by 0.20 per cent to Rs 27,270 per 10 grams in futures trading
today after participants offloaded partial positions amid weak cues from global markets. Market analysts said trimming of positions by speculators tracking a weak trend in overseas markets mainly put pressure on the precious metal at futures trade. More information please visit this site www.bigprofitbuzz.com