The market lost shine in afternoon trade with
the Nifty breaching 7750 level, weighed down by technology, oil, infra and
select banking & financials stocks. Weak European opening also dampened
sentiment.
The Sensex declined 22.87 points to 25279.03
and the Nifty was up 0.10 points at 7749.80. The market breadth also turned
negative as about 1321 shares declined against 1067 advancing shares on BSE.
European stocks opened slightly lower after
weak Japanese export data, a dip in oil prices, and the potential for a US
interest rate hike in June, weighed on investor sentiment.
FTSE, CAC and DAX were down 0.5-1 percent.
HDFC, ONGC, Sun Pharma, Bajaj Auto and Tata Steel were down 1-2 percent while
ITC remained top gainer, up 4 percent after brokerages raised target price on
revival in cigarette business. Adani Ports and HUL gained over 1 percent.
BUY ITC FUTURE ABOVE 344 TGS 347-351 STOPLOSS 340
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