Monday, 8 December 2014

Nifty ends below 8500, Sensex sheds 339 pts; Infosys drags

It was a weak start to the week on Monday as the equity benchmarks fell more than a percent weighed down by banks, technology, capital goods, metals and auto stocks. The selling pressure extended in afternoon trade after a quiet start to the week.

The 30-share BSE Sensex shed 338.70 points to 28119.40 while the 50-share NSE Nifty closed way below the 8500-mark, down 100.05 points. The broader markets dropped too; the BSE Midcap and Smallcap indices slipped 1.2 percent and 0.9 percent, respectively.

However, ONGC gained 0.6 percent as media report suggested that oil ministry will cut subsidy burden of the state-run oil explorer and adjust its cess payment.

Cigarette major ITC gained for the third consecutive session today, up 1.6 percent on top of a 8 percent rally last week. Coal India topped the buying list on the Sensex, up 2.3 percent. Sun Pharma, Bharti Airtel and Cipla gained 0.6-0.9 percent.

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