Thursday, 7 July 2016

Sensex, Midcap volatile; Tata Steel slips 4%, Hindalco gains 3%

Epic Update Tata Steel
Epic Update Tata Steel

Equity benchmarks as well as broader markets remained rangebound in afternoon trade with the Sensex trading in a 70-point band despite strong Europe rally.

The 30-share BSE Sensex was up 32.84 points at 27199.71 and the 50-share NSE Nifty declined 4.35 points to 8331.60.

The market breadth continued to be positive as about 1500 shares advanced against 1053 declining shares on Bombay Stock Exchange.

Tata Steel shares fell 4 percent after sources told CNBC-TV18 that the sale of UK business might be kept on hold to look at all the choices including pension liability. Sale of Port Talbot asset might also be put on hold. No bidders have backed out despite Brexit jitters.

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