Nifty hovers around 8150.....!

 Sensex weak; ICICI, Bajaj Auto decline Equity benchmarks continued to reel under selling pressure in noon, dragged by banking & financials and FMCG stocks. Oil, telecom, infra and pharma stocks outperformed. Market Update: Benchmark indices remained under pressure in afternoon trade. The Sensex declined 97.15 points to 26529.31 and the Nifty fell 25.85 points to 8159.95. About 1572 shares advanced against 853 declining shares on the BSE. Auto sales: : Mahindra & 

Mahindra announced its auto sales performance for December 2016 which stood at 36,363 vehicles compared to 37,915 vehicles during December 2015. The passenger vehicles segment (which includes UVs, cars and vans) sold 16,698 vehicles in December 2016 as against 18,197 vehicles during December 2015. The company’s domestic sales stood at 34,310 vehicles during December 2016, as against 34,839 vehicles during December 2015. Exports for December 2016 stood at 2,053 vehicles. For the nine months period ending December 31, 2016, the company sold 3,68,577 vehicles, against 3,53,589 vehicles for the same period last year, representing a growth of 4%. Market Expert: 

The current year is looking tougher for the market, Atul Suri of Rare Enterprises said adding that 7900-8000 will be the most crucial levels for the market. If 7900 breaks, Nifty could test levels of 7500. Full recovery in market can happen only from 8600. “Make or break for this market will be banking index,” Suri said. However, the sector is not showing much buoyancy or leadership in current times. Market trends are determined by the foreign flows and not domestic flows. DIIs will continue to grow via the systematic investment plan (SIP) on back of structural changes.USFDA nod: Drug firm Lupin has received final approval from the US health regulator to market cevimeline hydrochloride capsules, used for treatment of symptoms of dry mouth in patients with Sjogren's syndrome, in the US market. The company has received final approval from the United States Food and Drug Administration (USFDA) to market its cevimeline hydrochloride capsules 30 mg, Lupin said in a filing to BSE today. 

The company's product is a generic version of Daiichi Sankyo Inc's Evoxac capsules, it added. The company further said that it will commence promoting the product immediately. Evoxac capsules had US sales of USD 40.8 million as per IMS MAT September 2016 data, it added. Also read - Buy, sell, hold: How to trade 5 auto & bank stocks?  Market Check Equity benchmarks continued to reel under selling pressure in noon, dragged by banking & 

Financials and FMCG  stocks. Oil, telecom, infra and pharma stocks outperformed. The 30-share BSE Sensex was down 128.24 points at 26498.22 and the 50-share NSE Nifty fell 35.60 points to 8150.20 while the broader markets continued to outperform benchmarks. The BSE Midcap index gained 0.2 percent and Smallcap was up 0.6 percent on positive breadth. About 1499 shares advanced against 809 declining shares on the exchange. HDFC was the biggest loser among Sensex 30 stocks, down 3.5 percent followed by SBI, ICICI Bank and Bajaj Auto with 2 percent loss. However, Reliance Industries, Lupin, Bharti Airtel, Sun Pharma, Dr Reddy's Labs and Maruti continued to support the market.

Read more for Indian stock tips :http://www.aceinvestmentadvisory.com