Sensex, Nifty, Midcap under pressure; banks, IT, auto stocks dip

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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Home » News » Markets » Local Markets

Jan 13, 2017, 12.03 PM | Source: Moneycontrol.com

Sensex, Nifty, Midcap under pressure; banks, IT, auto stocks dip

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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Sensex, Nifty, Midcap under pressure; banks, IT, auto stocks dip

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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11:00
Moneycontrol Bureau

11:40 am Coal scam:
The CBI today filed the final report in further probe directed by special court in the coal scam case against Congress leader and industrialist Naveen Jindal, ex-Minister of State for Coal Dasari Narayan Rao and others.

Special Judge Bharat Parashar, however, took strong objection to the IO not filing the report in a proper format and asked him to do so by January 23.

The report filed before the court today contains CFSL reports, list of witnesses and their statements recorded by the CBI.

The court had earlier pulled up the CBI for delay in filing the report, saying it was affecting the progress of trial.

11:15 am Unemployment in India:
Unemployment in India is projected to witness marginal increase between 2017 and 2018, signalling stagnation in job creation in the country, according to a UN labour report.

The United Nations International Labour Organisation (ILO) released its 2017 World Employment and Social Outlook report yesterday, which finds economic growth trends lagging behind employment needs and predicts both rising unemployment and worsening social inequality throughout 2017.

Job creation in India is not expected to pick up pace in 2017 and 2018 as unemployment rises slightly, representing a near stagnation in percentage terms.

 Also read - Buy, sell, hold: 12 stocks to watch out as earnings start

11:00 am Market Check

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.

The 30-share BSE Sensex was down 47.53 points at 27199.63 and the 50-share NSE Nifty fell 17.60 points to 8389.60. About 1229 shares declined against 933 advancing shares on the BSE.

Infosys and TCS shares plunged 2-3 percent after third quarter earnings that overall were in line with analysts' expectations.

However, index heavyweights HDFC, Reliance Industries and ITC continued to support the market,  up 0.6-1.6 percent.

Asian markets were mixed as investors digested China's full-year trade figures in yuan-terms and waited for more dollar-denominated data to be released.

Mainland Chinese shares were lower after official data showed that Chinese exports dropped 2 percent on-year in yuan terms in 2016, while imports picked up 0.6 percent.

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.

Read More »

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.

Read More »

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