NEW DELHI: The S&P BSE Sensex recouped losses and was trading flat after it slipped over 100 points in trade on Thursday, led by losses in TCS, Infosys, ICICI Bank, Tata Motors and L&T.The 50-share Nifty index also came under pressure, but was testing its crucial psychological level of 8,500 levels, supported by gains in Pharma, consumer durable, and oil & gas stocks.

Sun Pharma gained over 2 per cent, while Dredging Corp fell over 3 per cent. Alok Inds gained over 4 per cent, while Chola Investment surged over 7 per cent. Castex Technolgies plunged 5 per cent while JMT Auto was down 5 per cent.Amtek Auto shares plunged 35 per cent in trade. The stock had nosedived nearly 31 per cent in yesterday’s session after the announcement by bourses with regard to exclusion of company’s contracts in equity derivatives and futures and options (F&O) segments, with effect from October 30.

Rupee strengthened 11 paise to 65.16 against dollar in trade today after minutes from the US Federal Reserve’s July 28-29 policy review suggest the apex bank may not hike interest rate in September. The domestic currency had settled 4 paise higher at 65.27 against the greenback in the preceding session.On the global front, major Asian markets were trading with a negative bias. China’s Shanghai Composite and Japan’s Nikkei were down over 0.5 per cent, while Hong Kong’s Hang Seng lost about 1.5 per cent. South Korean KOSPI shed about a per cent and Singapore Straits Times fell over 1 per cent.

Source : http://economictimes.indiatimes.com/markets/stocks/news/sensex-down-over-100-points-nifty-tests-8500-amtek-auto-nosedives-43/articleshow/48551117.cms

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