1:30 pm Market check: The Sensex is down 478.61 points or
1.6 percent at 28970.34 and the Nifty is down 170.40 points or 1.9 percent at
8767.35. About 908 shares have advanced, 1741 shares declined, and 199 shares
are unchanged.
Sesa Sterlite, GAIL, ICICI Bank, Axis Bank and BHEL are top losers in the
Sensex.
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downgrade TCS, wary of Q4 growth; stock falls 3%
The market is still under pressure as the Sensex is down 389.48 points or 1
percent at 29059.47. The Nifty is down 124.75 points or 1 percent at
8813. About 987 shares have advanced, 1613 shares declined and 189 shares
are unchanged.
HUL, Dr Reddy's Labs, Bajaj Auto, Sun Pharma and Maruti are top gainers in
the Sensex. Among the losers are Sesa Sterlite, GAIL, ICICI Bank, Axis Bank and
NTPC.
Oil prices will reverse their recent gains as global crude inventories begin
to increase again, with US crude likely to drop as far as USD 40 a barrel in
the near-term, Goldman Sachs said.
Oil prices rose by almost a third between January and February on the back
of Middle East supply disruptions, strong winter demand and high refinery
margins. That followed a rout that had seen price falls of around 60 percent
between June 2014 and January this year.
But Goldman said that "the activity pull is sequentially
weakening" and that global crude inventories would therefore rise, pushing
West Texas Intermediate (WTI) crude to $40 a barrel, levels last seen at the
peak of the global financial crisis in late 2008, early 2009. It stood at
around $49.40 on Monday. More information please visit this site www.bigprofitbuzz.com
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