Nifty breaches 7750, Sensex in red; IT, oil, infra stocks drag

The market lost shine in afternoon trade with the Nifty breaching 7750 level, weighed down by technology, oil, infra and select banking & financials stocks. Weak European opening also dampened sentiment.

The Sensex declined 22.87 points to 25279.03 and the Nifty was up 0.10 points at 7749.80. The market breadth also turned negative as about 1321 shares declined against 1067 advancing shares on BSE.

European stocks opened slightly lower after weak Japanese export data, a dip in oil prices, and the potential for a US interest rate hike in June, weighed on investor sentiment. FTSE, CAC and DAX were down 0.5-1 percent.

HDFC, ONGC, Sun Pharma, Bajaj Auto and Tata Steel were down 1-2 percent while ITC remained top gainer, up 4 percent after brokerages raised target price on revival in cigarette business. Adani Ports and HUL gained over 1 percent.

For more information and best STOCK TIPS Calls us ✆ – 0731-6642300 or Visit http://ift.tt/1k8NnLH

Connect with our social media sites 

Facebook

Twitter

YouTube

Pinterest

Linkedin

Google+

Posted in: Indian Market Tips