3 September 2014

Afternoon Intraday Tips Market Updates; Sensex & Nifty erase some gains


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Intraday Equity benchmarks erased more than half of gains in last 15 minutes of trade due to fall in banks, FMCG and metals stocks. The Sensex had rallied more than 200 points after reports indicated that Ukraine's president Petro Poroshenko has reached an agreement with Russian president Vladimir Putin on a permanent cease fire in Eastern Ukrain.
European markets like FTSE, CAC and DAX trimmed gains from 1-2 percent to 0.8-1.3 percent but Russia and Ukraine markets maitained gains over over 4 percent.. The Sensex rose 84.61 points to 27104 and the Nifty climbed 24.60 points to 8107.65 supported by technology stocks while the BSE Midcap and Smallcap gained 0.7-1 percent. 
In commodities, Brent crude prices dropped to 16-month lows of USD 100 a barrel on account of the strength in the dollar and demand concerns emanating out of China.The Himatsingka group operates over 10 brands globally in the home textile space.

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