Sensex, Nifty sluggish; HDFC, MM, Wipro major laggards



Moneycontrol Bureau

The market is still rangebound. The Sensex is up 60.02 points or 0.2 percent at 26020.80 and the Nifty is up 18.25 points or 0.2 percent at 8020.55. About 1634 shares have advanced, 712 shares declined, and 160 shares are unchanged.

Lupin, Asian Paints, L&T, Tata Steel and NTPC are gainers while HDFC, M&M, Wipro, Bajaj Auto and Maruti are losers in the Sensex.

Gold stuck to a narrow range in Asian trade on Wednesday ahead of release of minutes from the Federal Reserve policy meeting earlier this month amid expectations of an interest rate hike in December.

Analysts cautioned that higher interest rates and a more positive sentiment in equity markets could weigh further on gold prices. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.



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