Stock Market

Nifty still below 7850, Sensex wobbles; Bharti, HUL laggards


Chillicious Team

The market is still dragging with weakness in banks, capital goods, IT and metals. The Sensex is down 232.77 points or 0.9 percent at 25557.45, and the Nifty down 67.50 points or 0.8 percent at 7832.90.

About 670 shares have advanced, 994 shares declined, and 96 shares are unchanged.

Adani Ports, Tata Motors and Asian Paints are top gainers while Dr Reddy’s Labs, Bharti Airtel, HUL, ICICI Bank and Tata Steel are losers in the Sensex.

Crompton Greaves Consumer Electricals, demerged from Crompton Greaves which deals in consumer products business is listed today with gains. Last year, investors in the consumer products business of Crompton Greaves sold their entire stake at a value of Rs 93 per share.

Oil prices dipped in early trading as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year.

The dollar has recovered 2.46 percent in value from May lows against a basket of other leading currencies , reversing an almost 8-percent fall earlier in the year.

A stronger dollar, in which oil is traded, makes fuel imports more expensive for countries using other currencies, potentially hitting demand.