Sensex extends losses, Nifty breaks 7950; Sun Pharma rebounds
The market extended losses in morning trade with the Nifty breaking 7950 level, dragged by FMCG and technology stocks. However, buying in oil and select banking & financials stocks arrested the fall.
Equity benchmarks started off Friday's trade on a negative note amid consolidation and low volumes, weighed by weak global cues ahead of Christmas holiday.
ITC, HDFC, Tata Motors, M&M, Adani Ports, L&T and Maruti Suzuki were under pressure while Asian Paints, Reliance Industries, Infosys, Sun Pharma and ICICI Bank gained.
The Indian rupee gained in the early trade today. It has opened higher by 6 paise at 67.93 per dollar versus 67.99 Thursday.
Asian shares were in the red today with little Christmas cheer expected in thin holiday trade after the Dow Jones index again fell short of the 20,000 mark.
US stocks fell on Thursday, weighed down by weakness in retailers, as investors stepped back from a recent rally fuelled by optimism that President-elect Donald Trump will invigorate economic growth.
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