Thursday 14 May 2015

Sensex, Nifty Still Down, IT & Bank Stocks Major Laggards

Posted by suhani varma on Thursday, May 14, 2015 with No comments

The market is still unable to get into the green zone as the Sensex is down 126.71 points at 27124.39. The Nifty is down 44.15 points at 8191.30. About 852 shares have advanced, 776 shares declined, and 119 shares are unchanged. IT and bank stocks are major laggards. Cipla, Bharti Airtel, Bajaj Auto and NTPC are up 2 percent. Among the losers are Infosys, Wipro, HDFC twins and Tata Motors. The US dollar huddled near three-month lows after poor retail data proved a huge disappointment to those expecting a strong American economic rebound from a weather-weakened first quarter. Investors reacted by pushing back the likely lift-off date for a rate hike by the Federal Reserve, giving gold a steer to five-week highs above USD 1,218 an ounce. Yet in a bizarre turn, German and U.S. bond yields still surged to their highest in over five months as a vicious selloff extended to its 10th session.

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