Stock Market

Sensex, Nifty still down; BHEL, Tata Steel slip 3-5%


Chillicious Team

The Sensex is down 87.99 points or 0.3 percent at 25141.71, and the Nifty down 27.55 points or 0.4 percent at 7719.45. About 813 shares have advanced, 1621 shares declined, and 119 shares are unchanged.

HDFC twins, NTPC, GAIL and Hero are top gainers while Adani Ports, Tata Motors, Hindalco, Tata Steel and BHEL are losers in the Sensex.

The outlook for major Asian currencies has stayed remarkably stable, according to a Reuters poll of strategists, despite the Japanese yen’s explosive rally and with forecasts hinging on US central bank policy expectations.

China’s yuan is forecast to weaken slightly against the dollar over the coming year, while the Indian rupee and South Korean won are expected to slip a bit as well, views that haven’t changed much since the start of the year.

Pressure on the yuan has ebbed in the past few months on views the Fed may raise rates more gradually this year, which has held back the dollar, and as the People’s Bank of China (PBoC) continues to clamp down on financial market speculation.