)
Markets have pared losses with the Nifty index rebounding above 7,900 led by Bank Nifty.
At 13.33 PM, the 30-share Sensex was down 42 points at 26,426 and the 50-share Nifty dipped 8 points at 7,904.
**********************************
Updated at 13:04
Benchmark indices continue to remain under selling pressure with Sensex and Nifty slipping below 50 DMA weighed down by financials and index heavyweights RIL and ITC.
At 13.05 PM, the 30-share Sensex was down 137 points at 26,331 and the 50-share Nifty dipped 34 points at 7,878.
The broader markets are under performing the benchmark indices- BSE Midcap and Smallcap indices are down over 1%.
The market breadth in BSE remains dismal with 1,792 shares declining and 871 shares advancing.
Further, foreign portfolio investors (FPIs) sold shares worth a net Rs 851.24 crore yesterday, as provisional data.
GLOBAL MARKETS
Asian stocks dropped today, 26 September 2014, after steep losses for US stocks overnight. Key benchmark indices in Indonesia, Japan, South Korea, Hong Kong, Taiwan and Singapore were off 0.12% to 1.62%. China's Shanghai Composite was up 0.03%.
Japan's annual core consumer inflation eased in August, in another sign that the Bank of Japan could be forced into additional easing steps to meet its 2% price goal sometime next fiscal year.
Trading in US index futures indicated that the Dow could gain 20 points at the opening bell on Friday, 26 September 2014. US stocks fell sharply on Thursday, 25 September 2014, on a report that Russian lawmakers are drafting legislation that would allow the government to seize foreign assets in response to sanctions by US and the European Union imposed on account of Russia's aggression in Ukraine.
SECTORS & STOCKS
BSE Consumer Durables index has plunged by nearly 2% followed by counters like Auto, Banks, Capital Goods, FMCG, IT, Oil & Gas, Power and Realty, all slipping by almost 1% each.
The main losers on the Sensex are GAIL, Hero Moto, Cipla, Maruti Suzuki, HDFC, Sesa Sterlite, ICICI Bank and Bajaj Auto.
On the gaining side, Sun Pharma, Hindalco, Tata Steel, ONGC and M&M have gained between 1-4%.
Shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories have rallied over 5% each in otherwise subdued market on CNBC-TV18 report that suggests that a team of US FDA inspectors, which recently conducted a surprise audit on a Gujarat unit of Sun Pharmaceutical , has submitted Form 483.
Mahindra and Mahindra stocks are up as the company launches its new Scorpio model. It is trading with a gain of 1%.
Among other shares, Financial Technologies (India) has surged 7% to Rs 217 the company said it concluded the renegotiation of technology supply agreement with Multi Commodity Exchange of India (MCX).
Mangalore Chemicals and Fertilisers (MCF) is locked in upper circuit of 20% at Rs 87.70 on National Stock Exchange after Deepak Fertilisers revised its offer price upwards to acquire stake in MCF.
