Wednesday, 17 August 2016

Sensex, Nifty remain sluggish; IT under pressure, metals up


Hero MotoCorp, Bajaj Auto, Axis Bank, Coal India and Cipla are gainers while TCS, Infosys, Asian Paints, ICICI Bank and GAIL are losers in the Sensex. Metal index is up. 

The market continues to be sluggish as the Nifty is below 8650. The 50-share index is down 3.95 points at 8638.60. The Sensex is up 18.93 points or 0.07% at 28083.54. About 1121 shares have advanced, 710 shares declined, and 97 shares are unchanged.

Hero MotoCorp, Bajaj Auto, Axis Bank, Coal India and Cipla are gainers while TCS, Infosys, Asian Paints, ICICI Bank and GAIL are losers in the Sensex. Metal index is up.

Gold was little changed as hawkish comments from US Federal Reserve officials raised bets on a rate hike this year and traders await minutes of the last Fed policy meeting for more clues. The Fed is raising expectations for an interest rate rise this year, even as early as next month, after two policymakers on Tuesday said the economic stars now appear to be aligning despite weak US economic growth in the first half of 2016.

New York Fed President William Dudley said a rate hike in September was possible, while Atlanta Fed President Dennis Lockhart said the US economy is likely strong enough for at least one rate increase before the end of 2016, with two a possibility.
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