Thursday, 21 May 2015

Sensex, Nifty Flat, Tata Steel Dips 4%, SBI & Coal India Up

Posted by suhani varma on Thursday, May 21, 2015 with No comments

The best case scenario for Nifty is to consolidate at 8300-8500 range, but there is a probability of it slipping to 7900 levels. Corporate balance sheets continue to remain under pressure and it will be the next big trigger for the market, he adds. According to him, a 25 basis points cut by the Reserve Bank in its June 2 policy is already priced in. 

The Sensex is down 28.78 points at 27808.43 and the Nifty is down 15.25 points  at 8408.00. About 739 shares have advanced, 693 shares declined, and 115 shares are unchanged. Tata Steel is still down 4 percent, Cipla, Tata Power, Vedanta and Bharti Airtel are major laggards in the Sensex. Among the gainers are Coal India, Axis Bank, Tata Motors, Infosys and L&T.

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