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Wednesday, October 12, 2016

Equity Tips

Sensex, Nifty slip 1%; Infosys & ONGC gain 2%, ICICI down

The market is still under selling pressure as auto, banks and metals heavyweights in red. The Sensex is down 243.27 points or 0.9 percent at 27839.07 and the Nifty is down 76.60 points or 0.9 percent at 8632.20. About 768 shares have advanced, 1305 shares declined, and 82 shares are unchanged.

Infosys, ONGC, Cipla and GAIL are top gainers while ICICI Bank, Adani Ports, Tata Motors and BHEL are losers in the Sensex.

The market has opened lower after two days of holiday. The Sensex is down 107.86 points or 0.4 percent at 27974.48, and the Nifty is down 37.85 points or 0.4 percent at 8670.95. About 259 shares have advanced, 245 shares declined, and 54 shares are unchanged.

Cipla, Asian Paints, Bajaj Auto, ONGC and Dr Reddy's Labs are top gainers while TCS, Tata Motors, M&M, Bharti and Reliance are losers in the Sensex.

The Indian rupee slipped in the early trade. It has opened lower by 30 paise at 66.83 per dollar versus 66.53 Monday.

The US dollar held near a seven-month high against a basket of major rivals after Federal Reserve meeting minutes reinforced expectations that the Central Bank would hike rates in December

Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards.

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