Sun Pharma, Maruti, TCS, Hero, and Dr Reddy’s Labs are top gainers in the Sensex. Among the losers are Tata Motors, Bharti Airtel, GAIL, Tata Steel and Cipla.The market is still flat as the Sensex is down 12.22 points at 29558.82.

The Nifty is up 4.50 points at 8915.00. About 977 shares have advanced, 957 shares declined, and 220 shares are unchanged. Sun Pharma, Maruti, TCS, Hero, and Dr Reddy’s Labs are top gainers in the Sensex. Among the losers are Tata Motors, Bharti Airtel, GAIL, Tata Steel and Cipla. Brokers said emergence of profit-booking by cautious investors in recent gainers at record levels ahead of tomorrow’s monthly expiry in the derivatives segment mainly pulled down the key indices from their peaks.

Besides, a weakening trend at other Asian markets following yesterday’s heavy sell-off in US markets on poor earnings reports negatively impacted trading sentiments here, they said. Gold clung to overnight gains to trade just above USD 1,290 an ounce, with focus turning to whether a weaker global economy may curb the Federal Reserve’s enthusiasm to raise interest rates.

The Federal Open Market Committee will release a statement at the end of its two-day policy meeting later in the day. Analysts say some disappointing corporate earnings and an unexpected drop in U.S. durable goods orders in December could push back expectations for a rate hike largely seen happening by mid-year.

Coustery : http://www.moneycontrol.com/news/local-markets/sensex-off-record-high-falls-58-pointsearly-trade_1285444.html

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