Equity benchmarks deleted early increases taking after further adjustment in rupee. The rupee hit new two-year low, trading at 66.76 a dollar, down 30 paise today. Banks, technology, pharma and capital goods stocks saw selling pressure.
The BSE Sensex declined 83.28 points to 25118.62 and the Nifty NSE fell 31.05 points to 7624 in the midst of unpredictability. The broader markets failed to meet expectations benchmarks, falling 1 percent.
The market expansiveness stayed feeble as around 1138 shares have declined against 585 shares progressed on the Bombay Stock Exchange.
GAIL topped the offering rundown on Sensex, down 2.5 percent took after by ICICI Bank, Lupin, Axis Bank, Sun Pharma, Wipro, Dr Reddy's Labs and Bajaj Auto with 1-1.5 percent loss. Infosys and L&T declined 0.8 percent while HDFC, ITC, Tata Motors and Cipla evaded the pattern, up 0.5-1 percent.
On the worldwide front, major Asian markets recuperated with the Shanghai rising 0.9 percent. Hang Seng increased 0.2 percent and Nikkei rose 0.5 percent.
Free Intraday Stock Tips Today
Buy Pidilite Industries with a stop loss at Rs 545 and target of Rs 575
Buy Glenmark Pharma with a stop loss at Rs 985 and target of Rs 1120
Sell Reliance Communications Future with a stop loss at Rs 61 and target of Rs 54
Sell NMDC with a stop loss at Rs 101 and target of Rs 92
Commodity Trading Tips Today
Sell MCX Gold @ Oct at 26600, Target 26450, SL 26700
Buy MCX Silver @ Dec at 35000, Target 35700, SL 34700