Sensex, Nifty continue to struggle; FMCG, metals, oil tremble

The market is still struggling as the Sensex is down 66.49 points or 0.3 percent at 23125.48, and the Nifty is down 13.90 points or 0.2 percent at 7034.35. About 513 shares have advanced, 1607 shares declined, and 90 shares are unchanged.

Adani Ports, Dr Reddy’s Labs, BHEL, Reliance and Tata Motors are gainers while GAIL, Bajaj Auto, Lupin, Hero and Coal India are major losers in the Sensex.

Gold snapped a three-day losing streak, in choppy trade that saw the metal swing between gains and losses around the key USD1,200 an ounce level as stock markets consolidated recent gains. The stock market stabilisation, after last week’s rout on concerns about the global economy, has reduced investor interest in gold as a safe-haven asset. The yellow metal hit a one-year high of USD1,260.60 an ounce last week.

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Posted in: Indian Market Tips