The market is struggling with the Nifty holding 8100 mark. The 50-shar index is down 30.95 points or 0.4 percent at 8112.65. The Sensex is down 111.72 points or 0.4 percent at 26792.39. About 1183 shares have advanced, 889 shares declined, and 102 shares are unchanged.
Bajaj Auto, Lupin, Coal India, Wipro and BHEL are top gainers while
Hindalco, Vedanta, ONGC, Tata Steel and Infosys are major losers in
the Sensex.
Gold steadied near a three-month high, as investors pushed back
expectations of a Federal Reserve interest rate hike to next year and
on a weaker dollar. The Fed was expected to raise US rates for the
first time in nearly a decade this year, but recent weak US data,
concerns over Chinese growth and volatility in financial markets have
prompted markets to shift rate hike views to early 2016.
The US central bank refrained from hiking rates at its last meeting
in September. It holds two more policy meets in 2015: on Oct. 27-28,
and then in December. Higher rates could dent demand for
non-interest-paying bullion, while boosting the dollar.
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