Friday, 8 July 2016

Nifty, Sensex Under Pressure; Lupin, Tata Steel Most Active

The market has started off last day of the week on a flat note. The Sensex fell 2.35 points to 27199.14 and the Nifty declined 2.40 points to 8335.50. For more information visit    
       Lupin and Tata Motors were top gainers in early trade, up 2 percent each followed by Sun Pharma, BHEL, Hero MotoCorp and Aurobindo Pharma while Tata Steel, ITC, ONGC, Bharti Airtel, ICICI Bank, Idea Cellular and Bharti Infratel were losers.         
        Asian markets were trading lower with the Shanghai, Hang Seng and Nikkei falling 0.5-1 percent as oil declined Thursday and ahead of US payroll data due today.Equity benchmarks extended sell-off with the Nifty breaching 8300 level for the first time in last five sessions. The Sensex fell 108.71 points to 27092.78 and the Nifty declined 33.50 points to 8304.40.
        The market breadth was weak as about 839 shares declined against 653 advancing shares on BSE.
       Tata Steel 's board is expected to meet today to discuss sale of its UK assets. Sources have told CNBC-TV18 that the steel major is likely to hold asset sale as of now. If the deal does not go through, some pressure will be seen on the stock in near-term, says Tarang Bhanushali of IIFL who has a reduced rating on Tata Steel. In case of no deal, the target price for the stock is Rs 305. 
          Biocon Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 21, 2016, inter alia, to approve the un-audited financial results for the quarter ended on June 30, 2016 (Q1).The Company will organize a conference call for analysts and investors on July 22, 2016. The details of the call will be available on the Company's website closer to the scheduled event.Source : BSE


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