BHEL, Bajaj Auto, SBI, Bharti Airtel, Cipla, Reliance Industries, Axis Bank and IndusInd Bank gained 1-3 percent.Equity benchmarks fell further post Supreme Court order on Goa iron ore mining case. Supreme Court today said iron ore mined in Goa before 2007 is belonged to state. Earlier SC had said monitoring panel will auction all mined iron ore. Sesa Sterlite fell more than 7 percent. The Sensex lost 127.19 points to 26256.88 and the Nifty declined 46.60 points to 7837.65. About 1054 shares have advanced, 1148 shares declined, and 89 shares are unchanged.

Budget carrier SpiceJet’s top official warned the loss-making airline still needs new funding to anchor its turnaround efforts, even as its operating performance improves with higher revenue per seat amid reduced capacity. “Our challenge is our legacy losses and this cannot be solved by operational cash flows alone, but by funding or recapitalisation,”

Sanjiv Kapoor, chief operating officer at India’s No. 3 airline by market share as of August, told Reuters in an interview. SpiceJet previously said it was in “advanced” talks with an external entity to get funding.Investors are currently awaiting the Maharashtra and Haryana states elections results on the assumption that once this event is out of the way, the Prime Minister will finally settle down and look at administration changes and reforms, says Saurabh Mukherjea, chief executive officer, Institutional Equities at Ambit Capital. Speaking to CNBC-TV18, Mukherjea says the economy continues to be soft and no infra project has taken off significantly.

On the market-front, Mukherjea says the market will pick up pace only if reform momentum kicks off and adds that he isn’t too worried about global slowdown. He has a year-end target of 30000 on the Sensex with a 10 percent downside risk if the policy reforms don’t come in.Equity benchmarks continued to consolidate in morning trade with the Sensex losing 36.27 points to 26347.80 and the Nifty falling 16.55 points to 7867.70. The BSE Midcap declined marginally but Smallcap Index rose 0.4 percent.The market breadth was positive; about 1182 shares have advanced while 873 shares declined on the Bombay Stock Exchange.

Coustery :  http://www.moneycontrol.com/news/local-markets/sensex-slips-100-pts-nifty-breaks-7850-bhel-bajaj-auto-up_1202894.html

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