Profit taking drags Sensex, Nifty; DLF up 3%, TCS falls 2%

Written By Unknown on Selasa, 05 November 2013 | 16.03

Nov 05, 2013, 02.08 PM IST

Heavy selling is seen in Pharma and FMCG stocks with ITC losing over 3 percent. Power Grid, Sun Pharma, Dr Reddy's Labs and Ranbaxy are dragging the Nifty. Meanwhile, NMDC is up 3.5 percent while JP Associates, DLF, PNB and IndusInd Bank are gainers in the Nifty.

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Profit taking drags Sensex, Nifty; DLF up 3%, TCS falls 2%

Heavy selling is seen in Pharma and FMCG stocks with ITC losing over 3 percent. Power Grid, Sun Pharma, Dr Reddy's Labs and Ranbaxy are dragging the Nifty. Meanwhile, NMDC is up 3.5 percent while JP Associates, DLF, PNB and IndusInd Bank are gainers in the Nifty.

Like this story, share it with millions of investors on M3

Profit taking drags Sensex, Nifty; DLF up 3%, TCS falls 2%

Heavy selling is seen in Pharma and FMCG stocks with ITC losing over 3 percent. Power Grid, Sun Pharma, Dr Reddy's Labs and Ranbaxy are dragging the Nifty. Meanwhile, NMDC is up 3.5 percent while JP Associates, DLF, PNB and IndusInd Bank are gainers in the Nifty.

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14:08

Moneycontrol Bureau
Live Market Commentary

Profit booking drags the market as both the Sensex and Nifty struggles to hold firm. The Sensex is down 197.58 points at 21041.78, and the Nifty is down 45.10 points at 6272.25. About 1154 shares have advanced, 1020 shares declined, and 118 shares are unchanged.

Heavy selling is seen in Pharma and FMCG stocks with ITC losing over 3 percent. Power Grid, Sun Pharma, Dr Reddy's Labs and Ranbaxy are dragging the Nifty. Meanwhile, NMDC is up 3.5 percent while JP Associates, DLF, PNB and IndusInd Bank are gainers in the Nifty.

Escort shares are up 5 percent after the management tells CNBC-TV18 that it is looking to hike prices by1.5-2 percent in second week of November. The company is also expecting 12-13 percent volume growth this festive season.

Bullishness of foreign investors on Indian market remains intact. Goldman Sachs upgraded India to equalweight and raised its Nifty target to 6900. The firm says there is optimism in the market over political change led by BJP's prime ministerial candidate Narendra Modi. Nomura has also restored its Sensex target to 22000 from 20000.



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