Nifty holds 7500 amid pressure; HUL slips ahead of Q3 nos

The market erased early gains with the Sensex shedding more than 150 points from day’s high, dragged by banking & financials, FMCG and infra stocks.

The Sensex declined 82.83 points to 24690.14 and the Nifty fell 30.80 points to 7506.00. The market breadth also turned weak as about 1132 shares declined against 971 advancing shares on the Bombay Stock Exchange.

Hindustan Unilever dropped 1 percent ahead of its third quarter earnings. Numbers are likely to be tepid during the quarter with net profit down 14 percent year-on-year to Rs 1,073 crore. Revenue is seen rising 5.7 percent to Rs 8220 crore in same period.

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Posted in: Indian Market Tips