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Benchmark indices continue to languish in the negative territory tracking weakness in the global peers amid fears of interest rate hike by the US central bank on the back of an upbeat US jobs data.
Meanwhile, investors have turned cautious ahead of CAD data due later during the day amid ongoing Greek debt crises and decline in the Rupee.
At 1.15 PM, the Sensex was down by 173 points at 26,596 levels while the Nifty was quoting at 8,071 levels, down by 54 points.
RUPEE
The rupee is quoting at 64.05 against the dollar on the back of higher dollar demand from banks and importers.
KEY EVENTS FOR THE WEEK
Data for industrial production for April and consumer price index (CPI) for May is scheduled to release on Friday.
The Reserve Bank of India (RBI) is scheduled to announce current account deficit (CAD) data for Q4 March 2015 on Monday, 8 June 2015.
STOCKS ON THE RADAR
On the sectoral front, all sectoral indices are trading in red with BSE Consumer Durables and Oil & Gas indices leading the decline, down over 1% each.
Vedanta has slipped 2.5% after, its subsidiary and one of the largest independent oil and gas exploration and production companies in India, Cairn India dropped over 3% on further decline in crude oil prices.
Tata Motors has slipped over 2% as the slowdown in Chinese markets is likely to hit its revenue from its luxury brand JLR.
Oil and Gas exploration majors RIL and ONGC are trading lower up to 1% on further decline in crude prices. On Friday, OPEC agreed to keep the production target of 30 million barrels of oil per day unchanged which is likely to add to the further decline in the oil prices due to oversupply glut.
Shares of Coal India, Indian state-controlled coal mining company, extend the rally and are trading higher by 2% on brokerage upgrades.
Eros zoomed nearly 12% on reports of delisting buzz.
SpiceJet surged 4% after chairman and main promoter Ajay Singh has decided to infuse capital for fleet expansion.
Drug maker Wockhardt is trading lower by 5% to Rs 1,329 after the company recalled over 200 bottles of Captopril tablets, used in treatment of blood pressure, and Clarithromycin antibiotic tablets manufactured in the US because of deviations in current good manufacturing practice norms stated by US Food and Drug Administration (FDA).
Sun TV has cracked 21% on reports that the Ministry of Home Affairs (MHA) has struck down the proposal by the Information and Broadcasting (I&B) Ministry for giving security clearance to 33 television channels of Sun TV Network.
The broader markets are underperforming their larger peers. BSE Midcap and Smallcap indices are trading lower over 1% each.
Market breadth continued to remain weak with 1,688 losers and 737 gainers on the BSE.
