Monday 22 February 2016

Sensex, Nifty slip 1%; ICICI, HDFC Bank, ITC, TCS under pressure -- 23 Feb 2016

ICICI Bank, HDFC Bank, ITC, HDFC, TCS, L&T, HUL and SBI were top contributors to Sensex's fall while Sun Pharma, Infosys, ONGC, Dr Reddy's Labs and Maruti Suzuki outperformed.



                                       
The Sensex shed 213.42 points or 0.90 percent to 23575.37 and the Nifty declined 70.15 points or 0.97 percent to 7164.40 on profit booking in banking & financials, FMCG, infra and select auto stocks. The market breadth too remained weak as more than two shares declined for every share advancing on the Bombay Stock Exchange. The BSE Midcap was down 0.9 percent and Smallcap fell 0.7 percent. ICICI Bank, HDFC Bank, ITC, HDFC, TCS, L&T, HUL and SBI were top contributors to Sensex's fall while Sun Pharma, Infosys, ONGC, Dr Reddy's Labs and Maruti Suzuki outperformed. Oil prices dipped slightly after posting strong gains the previous session on the back of an expected drop in US production, but which analysts expect to be countered by rising output from Iran. US front-month West Texas Intermediate (WTI) crude futures were down 1.65 percent to USD 32.84 a barrel and international benchmark Brent was down 52 cents at USD 34.17 a barrel.

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