All coal blocks de-allocated; Sensex, Nifty under pressure
The market is under pressure. The Sensex is down 45.52 points or 0.17% at 26730.17 and the Nifty down 17.75 points at 7999.80. About 838 shares have advanced, 1979 shares declined, and 82 shares are unchanged. HUL, Coal India, Wipro, ITC and Hindalco are up 2 percent each. On the losing side are L&T, Tata Power, BHEL, Hero MotoCorp and Bajaj Auto. Brent crude fell for a third day, slipping further below USD 97 a barrel as inflated supplies and weak economic data from Europe outweighed rising geopolitical tensions in the Middle East. The European economic data and a rise in oil exports from Iraq and Nigeria overshadowed a boost from China with Tuesday’s release of a better-than-expected flash Purchasing Managers’ Index (PMI) for September. US air strikes on militants in Syria also failed to lift prices. Asian markets closed mixed while Europe is trading flat as concerns on global growth and unrest in Syria dominate sentiment.
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