Tuesday, 29 November 2016

Sensex, Nifty continue to climb; pharma stocks down, auto up

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The market is still picking up pace as the Nifty eyes 8200. The 50-share is up 63 points or 0.8 percent at 8189.90 while the Sensex is up 184.62 points or 0.7 percent at 26534.79. Pharma stocks are under performing while auto stocks are gaining. Maruti, M&M, GAIL, HDFC and Tata Motors are gainers while Sun Pharma, Lupin, HUL, Cipla and NTPC are losers in the Sensex. Gold edged lower on Tuesday as the US dollar steadied, with markets on edge ahead of a meeting this week that could see oil producers curb output.

The dollar index, which measures the greenback against a basket of currencies, was steady at 101.390. Gold prices have fallen over USD 140 an ounce from their post-US election peak on Nov. 9 after a surge in US Treasury yields had sent the dollar to its highest in nearly 14 years.

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