The
market skid further as the Sensex is down 303.87 points or 1.2
percent at 25979.22 and the Nifty slips 97.55 points or 1.2 percent
at 7873.75. About 641 shares have advanced, 1576 shares declined, and
84 shares are unchanged.
Axis
Bank, HDFC, Bharti Airtel, Hindalco and SBI are among major laggards
in the Sensex. Among the gainers are TCS, Infosys, Sun Pharma, NTPC
and ONGC.
Auto sales: Maruti Suzuki, the country's largest car maker, has sold
1,17,864 vehicles in August, a growth of 6.4 percent over a year-ago
period driven by Ciaz, S-Cross and Alto Automatic but impacted by big
fall in compact car sales and lower exports. Overall sales growth was
much lower than expected as Nomura estimated 9.2 percent growth
year-on-year at 1.21 lakh units. Domestic sales in August grew by 8.6
percent to 1.06 lakh units whereas export declined 11.1 percent to
11,083 units compared to same month last year.
The
market continues to be under pressure mostly dragged by banks. The
Sensex is down 189.30 points or 0.7 percent at 26093.79 and the Nifty
slips 59.30 points or 0.7 percent at 7912. About 666 shares have
advanced, 1427 shares declined, and 67 shares are unchanged.
HDFC,
Lupin, Axis Bank, Bharti Airtel and Hindalco are among major laggards
while IT stocks are up on rising rupee. Sun Pharma, Infosys, TCS,
ONGC and NTPC are top gainers in the Sensex.
Oil
prices fell 3 percent in Asian trade, with investors covering short
positions and taking profits after Brent and US crude soared more
than 8 percent in the previous session. Both Brent and US crude
prices dropped nearly USD 2 a barrel shortly after trading in Brent
started on Tuesday before recovering later in the session.
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