Friday, 7 October 2016

Nifty falls below 8700, Sensex in red; HDFC, Bajaj Auto down

Lupin, ONGC, M&M, Axis Bank and ITC are gainers while HDFC, Bajaj Auto, Cipla, Dr Reddy's and Bharti are losers in the Sensex. 

The market is still struggling as the Sensex is down 55.44 points or 0.2 percent at 28050.77. The Nifty is down 24.15 points or 0.3 percent at 8685.40. About 961 shares have advanced, 930 shares declined, and 122 shares are unchanged.

Lupin, ONGC, M&M, Axis Bank and ITC are gainers while HDFC, Bajaj Auto, Cipla, Dr Reddy's and Bharti are losers in the Sensex.

Meanwhile, Chris Wood, CLSA says world financial markets remained superficially calm last quarter with the MSCI AC World Index up 18 percent from the February low when the oil price bottomed and credit spreads peaked.

"It is now possible to identify catalysts which could provide the trigger for what has long been argued here is the key catalyst for the post- 2008 world. That is a loss of G7 central-banking credibility. This, if it occurs, will lead to a big surge in market volatility, most particularly in the area ofcredit and fixed income. Still, to Greed & Fear, the sooner this loss of credibility happens the better since the distortions created by central-bank policy, in terms of the resulting systemic misallocation of capital, are grievous," he said.
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3 comments:

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Shares of JPMorgan ended down 0.3 percent, however, while Citigroup ended up 0.3 percent and Wells Fargo was down 0.1 percent.capitalstars