In Intraday market Shares of Kotak Mahindra Bank fell more
than 3 percent. Foreign institutional investors need to get approval for further
buying in shares of the bank as their holding reached trigger limit.
Benchmark as well as broader indices fell for the second
consecutive session Thursday amid rising tension in Iraq and further tapering
by Federal Reserve. The Sensex fell 44.45 points to close at 25201.80 while the
Nifty held 7500 level amid pressure, losing 17.50 points to 7540.70 after
hitting an intraday low of 7502.55.
The BSE Midcap and Small cap indices were down 0.4 percent
and 0.3 percent, respectively. The ongoing crisis in Iraq is a temporary
problem for the market, which caused volatility in rupee, say experts.
According to them, the market will rally at least 10 percent by end of December
from current levels as India is in the midst of a multi-year bull market.
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