Sensex recovers, Nifty reclaims 8400; Tata Steel, Tata Motors up

Epic Update Tata Steel

Benchmark indices recouped early losses with the Nifty reclaiming 8400 level. HDFC group and Tata group stocks supported the market while FMCG and select IT stocks remained under pressure.

The 30-share BSE Sensex was up 5.30 points at 27243.36 and the 50-share NSE Nifty fell 6.80 points to 8393.55 while the broader markets outperformed benchmarks.The BSE Midcap and Smallcap indices gained 0.3 percent each.

Tata Motors, Tata Steel and TCS gained 0.4-1.6 percent after a media report indicated that borrowing costs could fall 20-30bps after appointment of Chandra as Chairman of Tata Sons.

HDFC Bank, HDFC, L&T, SBI and Lupin rose 0.6-1 percent while Infosys fell further, down more than 1.5 percent followed by Reliance Industries, ITC, ICICI Bank and HUL.

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Posted in: Indian Market Tips