Market Watch

Friday 8 August 2014

Stock Market Tips with Morning News Updates


Asian stocks dropped, with the regional benchmark index heading for a seven-week low, as U.S. President Barack Obama authorized air strikes in Iraq. 
The S&P BSE Sensex plunged as much as 271 points in trade on Friday tracking other Asian markets, which were trading lower after US President Barack Obama authorised air strikes against Islamic militants in northern Iraq, said media reports.
Tracking the momentum, the 50-share Nifty index also slipped below its crucial psychological support level of 7600, weighed down by losses in banks, realty, capital goods and power stocks.
The BSE Mid-Cap index was down 122.49 points or 1.34% at 9,028.25. The BSE Small-Cap index was down 143.43 points or 1.43% at 9.899.78. Both these indices underperformed the Sensex.
Blue-chip stocks fall: Tata Motors Ltd down 2.2 percent, Bharat Heavy Electricals Ltd down 2.4 percent, and ICICI Bank loses 2.3 percent. However, defensive stocks gain: Dr Reddy's Laboratories up 0.7 percent. 

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