Current Market Update

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The Sensex is  290.28 points down and showing beerish trend of  1.2 % at 23997.14 and the Nifty is down 88.65 points or 1.2 % down at 7298.60. About 573 shares have gained , 1470 shares declined, and 66 shares remain unchanged.

 Top gainers :

GAIL, Sun Pharma, NTPC, ONGC and Lupin

Losers :

Infosys, Coal India, TCS, Maruti and Cipla

 Crude oil prices jumped, shrugging off big drops in Japan's stock market and eroding some of the previous session's losses that were driven by festering concerns about global oversupply. Decline in dollar makes oil prices cheaper because most trade is denominated in the greenback, potentially spurring demand.

The market is reeling under selling pressure. The Sensex is down 290.28 points or 1.2 percent at 23997.14 and the Nifty is down 88.65 points or 1.2 percent at 7298.60. About 573 shares have advanced, 1470 shares declined, and 66 shares are unchanged. GAIL, Sun Pharma, NTPC, ONGC and Lupin are top gainers while Infosys, Coal India, TCS, Maruti and Cipla are losers in the Sensex. Crude oil prices jumped, shrugging off big drops in Japan's stock market and eroding some of the previous session's losses that were driven by festering concerns about global oversupply. A declining dollar makes oil prices cheaper because most trade is denominated in the greenback, potentially spurring demand. Still, the glut in world oil markets is unlikely to abate soon, with a Reuters survey showing US crude stocks likely rose by 3.9 million barrels in the week ended February 5.

Read more at: http://www.moneycontrol.com/news/local-markets/nifty-hovers-around-7300-sensex-continues-to-skid-gail-up_5377161.html?utm_source=ref_article