Reliance, ICICI Bank, HDFC, Tata Power and Axis Bank are major losers in the Sensex. Among the gainers are Hindalco, BHEL, Tata Steel, GAIL and Sesa Sterlite.

Dragged by index heavyweights, the market is crumbling down. The Sensex is down 235.25 points at 29227.02 and the Nifty is down 65.20 points at 8830.10. About 1025 shares have advanced, 874 shares declined, and 162 shares are unchanged. Reliance, ICICI Bank, HDFC, Tata Power and Axis Bank are major losers in the Sensex. Among the gainers are Hindalco, BHEL, Tata Steel, GAIL and Sesa Sterlite.

Japanese stocks rose to a fresh 15-year high and the dollar was on the front foot again on upbeat US data, but continuing uncertainty over the Greek debt negotiations weighed on the euro. US weekly jobless numbers released overnight proved better than expected, diffusing some of the pressure on the dollar that followed dovish-sounding minutes from the last Federal Reserve policy meeting.

The minutes had dented expectations for an early interest rate hike by the Fed, driving US debt yields and the dollar lower. The greenback was also supported as the ebb and flow of confidence in the difficult talks between Greece and its lenders capped the euro.

Coustery : http://www.moneycontrol.com/news/local-markets/sensex-nifty-tumble-hindalco-bhel-gail-gain-1-2_1308849.html

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