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Last Updated : Aug 25, 2015 12:17 PM IST | Source: Moneycontrol.com

Volatile Nifty under pressure; Bank Nifty rebounds, IT down

Ace investor Wilbur Ross told CNBC-TV18 that he is relatively positive on India and believes it is a good time to add stocks to the portfolio.


Moneycontrol Bureau


It has been a volatile session on Dalal Street. The market wiped out all early gains to trade lower. The Nifty breached 7700-mark for the first time since August 2014, but it clawed back above that level.


The Sensex fell 150.92 points to 25590.64 and the Nifty dropped 50.40 points to 7758.60. About 386 shares have advanced, 2053 shares declined, and 57 shares are unchanged on the BSE.

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Defensives stocks like pharma and IT tumbled around 2 percent. Bank Nifty relatively outperformed, up 87 points.


The rupee erased early gains to hit a fresh 2-year low, down 6 paise to 66.70 a dollar.


Globally, key Asian markets reversed their early gains to trade with sharp losses. Nikkei slipped 1000 points from day's high, down 4 percent. Shanghai cracked almost 6 percent to hit its lowest level since December 2014.


Ace investor Wilbur Ross told CNBC-TV18 that he is relatively positive on India and believes it is a good time to add stocks to the portfolio. Prashant Jain of HDFC Mutual Fund feels market looks attractive at current levels and Sensex should generate returns equal to nominal GDP growth of 15 percent. Vibhav Kapoor of IL&FS says India still stands out as best emerging market.



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First Published on Aug 25, 2015 12:17 pm
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