Epic Update Tata Steel
Equity benchmarks continued to consolidate for second consecutive session with the Nifty hovering around 8900 level due to lack of cues.
The 30-share BSE Sensex was down 24.22 points at 28902.14 and the 50-share NSE Nifty declined 10.85 points to 8907.10 despite positive market breadth.
About 1308 shares advanced against 704 declining shares on the BSE.
TCS fell 5 percent after the company warned, saying it sees sequential loss of momentum in BFSI vertical in the US and is holding back of discretionary spending seen in BFSI vertical in the US. The news hit IT stocks sentiment with HCL Technology, Infosys and Wipro falling 2.7 percent, 2.75 percent and 1.75 percent, respectively.
Tata Steel was the biggest gainer, up 4 percent followed by Bajaj Auto, ONGC, Hero Motocorp, SBI, Hindalco Industries and Bharti Infratel whereas BHEL shed nearly 3 percent.
Equity benchmarks continued to consolidate for second consecutive session with the Nifty hovering around 8900 level due to lack of cues.
The 30-share BSE Sensex was down 24.22 points at 28902.14 and the 50-share NSE Nifty declined 10.85 points to 8907.10 despite positive market breadth.
About 1308 shares advanced against 704 declining shares on the BSE.
TCS fell 5 percent after the company warned, saying it sees sequential loss of momentum in BFSI vertical in the US and is holding back of discretionary spending seen in BFSI vertical in the US. The news hit IT stocks sentiment with HCL Technology, Infosys and Wipro falling 2.7 percent, 2.75 percent and 1.75 percent, respectively.
Tata Steel was the biggest gainer, up 4 percent followed by Bajaj Auto, ONGC, Hero Motocorp, SBI, Hindalco Industries and Bharti Infratel whereas BHEL shed nearly 3 percent.
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