The market is consolidating with the Nifty
hovering around 8750 levels. IT stocks support while banks continue to weigh.
The Nifty is up 27.50 points at 8751.20 and the Sensex is up 115.24 points at
28998.35. About 1237 shares have advanced, 1028 shares declined, and 197 shares
are unchanged.
Wipro, Axis Bank, HUL and Infosys are top gainers
in the Sensex. Among the losers are Tata Power, ONGC, GAIL, M&M and Sesa
Sterlite.
Globally, Asian markets are mixed. China is
higher as the People's Bank of China reduced the reserve requirement by 50 bps,
the first cut in 2 years. However, volatility in oil prices and worries about
Greek debt after the European Central Bank banned the use of Greek government
bonds as collateral weighs.
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