The market is still in bears grip. The Sensex is down 73.18 points or 0.3 percent at 25156.52, and the Nifty down 26.60 points or 0.3 percent at 7720.40. About 812 shares have advanced, 1453 shares declined, and 99 shares are unchanged.
HDFC twins , NTPC, GAIL and Hero are top gainers while Adani Ports, Tata Motors, Tata Steel, Hindalco and ICICI Bank are losers in the Sensex.
The Supreme Court told the tobacco industry to adhere to rules requiring stringent health warnings on cigarette packs, but ordered a state high court to hear all pleas challenging the same.
The tobacco industry “should not violate any rule prevailing as of today,” the two-judge bench said, and added that the Karnataka high court should hear all pleas challenging the new rules.
Last month, Indian tobacco companies, some backed by foreign “Big Tobacco”, shut down production in protest against requirements that 85 percent of a cigarette pack’s surface be covered in health warnings, up from 20 percent.
The tobacco industry has taken the government to court, saying the rules are impractical and will boost smuggling of imported cigarettes. The government backs the stringent rules to cut tobacco consumption.