Nifty struggles below 8160, Sen*** slumps; Vedanta falls Tata Steel, Vedanta, Hindalco, Tata Motors and SBI are among major laggards in the Sen***. Top gainers include Hero, Coal India, Dr Reddy’s Labs and HUL.
Pressure mounts on Dalal Street as banks, capital goods and metals see sharp selling. The the Sen*** is down 328.00 points or 1.1 percent at 27179.30 and the Nifty is down 111.80 points or 1 percent at 8213.45. About 454 shares have advanced, 1198 shares declined, and 93 shares are unchanged. Tata Steel, Vedanta, Hindalco, Tata Motors and SBI are among major laggards in the Sen***. Top gainers include Hero, Coal India, Dr Reddy’s Labs and HUL. IIP and inflation data will be released later in the day. Brokers said emergence of profit-booking by participants ahead of key economic data – industrial production (IIP) numbers for March and inflation based on consumer price index (CPI) for April – to be unveiled later in the day contributed to the fall. Besides, a weak trend at other Asian markets, weighed down by uncertainty over the Greek debt deal, too, dampened trading sentiment here, they said.
Courtesy: Pinnacle Financial Services