Sensex, Nifty maintain southward move; BoB, PNB lose 2%

Written By Unknown on Kamis, 12 Desember 2013 | 16.02

14:21

Moneycontrol Bureau
Live Market Commentary
The market is not showing any sign of recovery in afternoon trade as investors are nervous ahead of RBI policy and Federal Reserve meeting due next week.

The Sensex lost 172.29 points or 0.81 percent to 20,999.12, and the Nifty fell 49.40 points or 0.78 percent to 6,258.50, continuing downtrend for the third straight day today after these indices touched record highs on Monday.

Tata Motors is the major loser in the Sensex, falling 4 percent followed by ICICI Bank , Reliance Industries , TCS and ONGC with a 1-2 percent fall.

Shares of Bank of Baroda , Punjab National Bank and Ambuja Cements lost 2-3 percent.

However, the top gainer is Tata Power that rallied nearly 5 percent. GAIL and HDFC climbed 1 percent each.

On the macro data front, the index of industrial production for October is likely to range between a growth of 1 percent and a decline of 3.5 percent. While on the inflation side, consumer price index for November is likely to come it at around 9.7 percent to around 10.8 percent. Remember these data points will be crucial in determining the RBI policy next week.

Shares of Shasun Pharma gained 2 percent as the compnay is planning to sell Vizag unit.



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