Sensex, Nifty drag 1%; rupee weak, infra & FMCG stocks skid

The market is slipping away, as the Sensex is down 295.90 points or 1 percent at 26930.03. The Nifty is down 85.35 points or 1 percent at 8154.40. About 1031 shares have advanced, 1369 shares declined, and 147 shares are unchanged.

Bharti, Tata Power, HDFC, Coal India and Dr Reddy’s Labs are among major laggards while Axis Bank, Vedanta, Cipla, Reliance and ONGC are top gainers in the Sensex.

The rupee pared its initial losses, but was still down by 17 paise at 63.47 against the American currency in late morning trade on sustained bouts of month-end dollar demand from banks and importers amid weak equities.

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Posted in: Indian Market Tips