Monday, January 19, 2015

Sensex & Nifty hold gains, China falls; infra & oil support

The market is still holding gains as the Sensex is up 164.17 points or 0.6 percent at 28286.06. The Nifty is up 42.20 points at 8556.00. About 1673 shares have advanced, 1108 shares declined, and 284 shares are unchanged.

Capital goods and oil & gas stocks are lending major support to the indices. Wipro remains to be the top gainer in the Sensex while GAIL, Axis Bank, BHEL and Bharti Airtel are other gainers. On the losing side are HUL, Hero, TCS, HDFC and Infosys.

China stocks suffered their biggest one-day percentage drop in more than six and a half years, dragged down by record tumbles in financial stocks as authorities battled excessive market speculation.

Regulators cracked down on margin trading, which has been blamed for fuelling a wave of speculation over the past three months. Bank stocks were hit after the banking regulator issued draft rules to tighten supervision of entrusted loans, a kind of shadow banking. The banks sub-index plummeted 9.97 percent and the financial sub-index sank 9.62 percent.

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