Stock Market News

Nifty hovers around 8750; HDFC, Sun Pharma, Hindalco down

The market fell marginally amid consolidation in noon trade, dragged by index heavyweights HDFC, HDFC Bank and ITC. The Sensex declined 84.19 points to 28801.02 and the Nifty slipped 29.45 points to 8748.85.

Shares of HDFC, HDFC Bank, Sun Pharma and Cipla declined 1-2 percent followed by ITC, L&T, TCS, Axis Bank and NTPC with 0.5-0.9 percent loss while SBI, Sesa Sterlite, BHEL and Tata Power gained 1-2 percent.

Hindalco lost 1.5 percent. Alcoa, the world’s third largest aluminium producer, reported numbers in the US with revenues disappointing even as profits topped estimates. JP Morgan said Alcoa’s commentary around the auto segment continued to remain positive which highlighted revenue visibility for Hindalco’s Novelis unit.

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