Sensex in red, slips over 300 points after reclaiming 27,000; Nifty tests 8,000

NEW DELHI: The S&P BSE Sensex has slipped over 300 points after reclaiming 27,000-mark in early trade.

The 50-share Nifty index is trading just above its crucial psychological level of 8,000.

Markets @ 11:56

Sensex: 26,575, down 265 points; Nifty: 8,037, down 85 points

Top Gainers

SUN PHARMA (0.5%), HIND. UNILEVER (0.4%), HERO MOTOCORP (0.2%), GAIL (0.0%),

Top Losers

SBI (-2.2%), RELIANCE IND. (-2.2%), CIPLA (-2.2%), NTPC (-2.1%), TATA MOTORS (-2.1%)


BUZZING STOCKS

JSPL down over over 7 per cent.

NALCO jumped 9 per cent in intraday trade.

AstraZeneca rallied 20 per cent in intraday trade on launch of diabetes drug FORXIGA.

Tata Motors slipped over 2 per cent in intraday trade.

Engineers India Ltd. gained 3.73 per cent in intraday trade as its Abu Dhabi Office wins orders worth Rs 150 Crores.

Future Retail surged over 3 per cent in intraday trade as the company seeks shareholders nod for 1500 crore NCD issue.

Nestle jumps 1.63 per cent.

CPCL rallied 10 per cent in intraday trade after ​state-owned Indian Oil Corporation announced its investment of Rs 1,000 crore for raising its stake in CPCL.

Usha Martin gained 5 per cent in intraday trade.

WHAT TOP EXPERTS SAY

Nifty is entrenched as proxy for investment in India: Chitra Ramkrishna, NSE. Read here

Will invest in stocks with better #earnings visibility: Vallum Capital

Expect India to grow at 7.5%: Jerry Webman. Watch here

Relative valuations of midcaps to laregcaps still at all-time high: UBS Securities

There is potential for correction in Indian market: Michael Hewson, CMC Markets

Expect quality industrials, cyclicals, capital goods to make good money over the next two-three years: Anant Shirgaonkar, Head-India Equities, UBS Securities. Read here

Don't expect India to rally for next 1-2 quarters, volatility in global markets to continue: Aquarius Investment Advisors. Watch here

Investors happy with recent correction, look for fresh opportunities: Anant Shirgaonkar, Head-India Equities, UBS Securities. Read here

Private banks to outperform market; do like IT, pharma & MNCs in FMCG space: Ajay Bagga, Market expert. Read here

MM Forgings a conviction buy; stay invested in Bharat Forge: Mayuresh Joshi, Fund Manager, Angel Broking. Read here

Break above 8,250 on Nifty would confirm bottoming out: Ashwani Gujral, Fund Manager, Ashwanigujral.com. Read here

Expect a strong rally if Nifty breaks 8,150-8,200 range: Mitesh Thacker, Technical Analyst, miteshthacker.com. Read here

Some more steam left in Voltas; see 8-10% upside: Mayuresh Joshi, Fund Manager, Angel Broking. Read here

MARKETS THROUGH THE DAY

Markets @ 11:00

Sensex: 26,602, down 238 points; Nifty: 8,046, down 78 points

Top Gainers

HIND. UNILEVER (1.0%), SUN PHARMA (0.4%), COAL INDIA (0.4%), ITC LTD (0.2%), VEDANTA LTD (0.1%)

Top Losers

TATA MOTORS (-2.4%), TATA STEEL (-1.9%), RELIANCE IND. (-1.7%), SBI (-1.6%), M&M (-1.6%)

Markets @ 10:00

Sensex: 26,877, up 37 points; Nifty: 8,137, up 12 points

Top Gainers

HIND. UNILEVER (1.6%), SUN PHARMA (1.1%), VEDANTA LTD (1.0%), ICICI BANK (0.9%), COAL INDIA (0.8%)

Top Losers

TATA MOTORS (-1.3%), TATA STEEL (-1.2%), BHEL (-0.8%), NTPC
(-0.6%), HDFC BANK (-0.5%)

Markets @ 09:20

The 30-share index was at 26932, up 91 points or 0.34 per cent. It touched a high of 27000.14 and a low of 26,924.42 in trade today.

The Nifty was at 8153 up 30 points or 0.36 per cent. It touched a high of 8163.05 and a low of 8145.25 in trade today.