The market extends fall to over 100 points, Nifty around 10,900; Tata Steel up 1%
Equity benchmarks have extended their fall from the opening mark. The Nifty is now below 10,900.
The Sensex fell 121.44 points or 0.33% at 36425.04, and the Nifty declined 53.20 points or 0.49% at 10890.40. The market breadth is negative as 469 shares advanced, against a decline of 980 shares, while 68 shares were unchanged.
Shares of Tata Steel, Kotak Mahindra Bank, and Cipla have gained the most, while M&M, Hero MotoCorp, and Indiabulls Housing lost the most. 4 percent on Monday morning as investors reacted to observations being issued to the company by the US FDA.
The stock touched an intraday high of Rs 2,704.70 and an intraday low of Rs 2,659.95.
The company on Friday told the exchanges that its Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations
Equity benchmarks have opened marginally lower, with the Nifty trading around 10,900.
The Sensex is down 53.26 points or 0.15% at 36493.22, while the Nifty is down 36.90 points or 0.34% at 10906.70. The market breadth is narrow as 211 shares advanced, against a decline of 169 shares, while 62 shares were unchanged.
Selling is visible across sectors, with maximum pain seen in automobiles and pharmaceuticals, among others. The Nifty Midcap index is down around 0.20 percent. source- www.moneycontrol.com
Bharti Airtel, Yes Bank, Tata Steel, and Titan are the top gainers, while M&M, Power Grid, and Tata Motors lost the most.
The Indian rupee has opened at 71.23 per US dollar. This implies an appreciation of 8 paise from its previous close of 71.31 per US dollar.
On Friday, the rupee appreciated by 14 paise Friday to close at 71.31 against the US dollar on persistent foreign fund inflows even as the greenback strengthened overseas amid fresh concerns over global growth.
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Today the market extends fall to over 100 points, Nifty around 10,900; Tata Steel up 1%. Thanks for the daily market updates.Epic Research
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