Nifty hovers around 6750 amid pressure; HDFC, Axis rebound

Apr 29, 2014, 02.22 PM IST | Source: Moneycontrol.com

Equity benchmarks trimmed losses in afternoon trade supported by HDFC and L&T. The Sensex declined 51.74 points to 22579.87 and the Nifty fell 9.65 points to 6751.60. About 1285 shares have advanced, 1294 shares declined, and 130 shares are unchanged.

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Moneycontrol Bureau
Live Market Commentary Equity benchmarks trimmed losses in afternoon trade supported by HDFC and L&T. The Sensex declined 51.74 points to 22579.87 and the Nifty fell 9.65 points to 6751.60. About 1285 shares have advanced, 1294 shares declined, and 130 shares are unchanged.

Engineering and construction major Larsen & Toubro gained 0.5 percent while top software services exporter TCS and housing finance company HDFC rose 0.3 percent each.

Telecom operator Bharti Airtel advanced 0.3 percent too, ahead of fourth quarter earnings today. According to CNBC-TV18 poll estimates, analysts expect a decent quarter driven by a strong India performance while Africa is expected to drag. PAT may fall 6.4 percent at Rs 1000 crore versus Rs 1068.2 crore on sequential basis.

Drug maker Sun Pharma and private sector lender Axis Bank climbed 0.6 percent each whereas shares of Hindustan Unilever, Tata Steel, Bajaj Auto and Hindalco Industries lost 2-4 percent.

HDFC Bank, State Bank of India, Tata Motors, Maruti Suzuki, Hero Motocorp, Tata Power and Cipla fell 0.8-1 percent. Top private sector lender ICICI Bank cut losses to 0.3 percent from 1.3 percent earlier.