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Jan 13, 2017, 02.22 PM | Source: Moneycontrol.com

Nifty struggles below 8400, Sensex weak; SpiceJet gains 4%

Axis Bank, HDFC, GAIL, Sun Pharma and ONGC are top gainers while TCS, Infosys, Tata Motors, NTPC and Maruti are losers in the Sensex.

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Nifty struggles below 8400, Sensex weak; SpiceJet gains 4%

Axis Bank, HDFC, GAIL, Sun Pharma and ONGC are top gainers while TCS, Infosys, Tata Motors, NTPC and Maruti are losers in the Sensex.

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13:00
Moneycontrol Bureau

1:30 pm Infosys boardroom:
Though the H1-B visa policy is still unclear, expect US President-elect Donald Trump to be business-friendly in the long term, says Vishal Sikka, MD and CEO of Infosys. Pravin Rao, COO of the company, said that they remain positive on the Banking, Financial services and Insurance (BFSI) space and expect the manufacturing vertical to bounceback. He further said that the retail sector is likely to remain volatile in the days to come. The company's CFO, MD Ranganath told CNBC-TV18 that rupee depreciation gave a 30 bps advantage in margin terms for Q3 and the management is keeping a close eye on developments pertaining to the H1-B visa issue.

Don't miss: TCS slips 4% despite steady Q3, analysts wary of Chandra exit

The market continues to drag as the Sensex is down 29.78 points or 0.1 percent at 27217.38, and the Nifty down 18.20 points or 0.2 percent at 8389. About 1153 shares have advanced, 1356 shares declined, and 326 shares are unchanged.
 
Axis Bank, HDFC, GAIL, Sun Pharma and ONGC are top gainers while TCS, Infosys, Tata Motors, NTPC and Maruti are losers in the Sensex.

Shares of SpiceJet rose over 4 percent after the company announced a deal worth Rs 1,50,000 crore with Boeing to purchase up to 205 new aircraft.
 
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.

Tracking a weak trend overseas, gold prices traded lower by 0.23 percent to Rs 28,328 per 10 grams in futures trade today as participants cut down their
bets.

Analysts attributed the slide in gold futures to a weak trend overseas. Meanwhile, gold declined 0.18 per cent, to USD 1,192.80 an ounce in Singapore.

12:00
Benchmark indices remained volatile in noon with the Nifty hovering around 8400 level, especially after three-day rally. Expected fall in December CPI inflation and unexpected growth in factory data despite currency demonetisation seems already priced in.

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11:00
Benchmark indices remained under pressure with the Nifty struggling below 8400 level, weighed by banks, technology and auto stocks. The broader markets also declined moderately on weak breadth.

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10:00
Tata group stocks TCS, Tata Steel and Tata Motors are down 1-2 percent. Infosys is down 1 percent and Dr Reddy's Labs are losers in the Sensex. Among gainers are ONGC, Coal India, HDFC, GAIL and HUL.

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09:15
Infosys is up 3 percent on its Q3 results. BHEL, ONGC, Coal India and L&T are gainers while ITC, TCS, Dr Reddy's Labs, Bahrti Airtel and Asian Paints are losers in the Sensex.

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Nifty struggles below 8400, Sensex weak; SpiceJet gains 4%

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