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May 17, 2012, 03.05 PM IST
SENSEX-NIFTY-LARSEN-TOUBRO-BAJAJ-AUTO:Sensex erases gains; L&T, Bajaj fall
L&T shares dropped 3.5 percent. Nomura downgraded L&T to 'reduce' from 'buy' and nearly halved its target price to 992 rupees from 1,691 rupees citing concern about orderbooks.
(Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Rafael Nam)
The BSE Sensex and NSE Nifty shed somewhat gains in afternoon trade due to fall in L&T, ICICI Bank, ONGC and technology stocks. Weak opening of European markets too added somewhat pressure on the market.
The BSE Sensex continued to hold about 150 points gains led by short covering. Meanwhile the NSE Nifty remained above the 4900 level quite nicely led by support from stocks like Reliance Industries and ITC. SBI, Bharti Airtel and HDFC Bank too were quite supportive.
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals