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Tuesday, July 05, 2016

Sensex, Nifty struggle in red; Cabinet expansion underway

Epic Research sensex nifty50
Epic Research sensex nifty50


The market is struggling in red as auto stocks are dragging. The Sensex is down 73.34 points or 0.3 percent at 27205.42, and the Nifty down 24.90 points or 0.3 percent at 8345.80. About 1137 shares have advanced, 1144 shares declined, and 115 shares are unchanged.

BHEL, Tata Steel, Adani Ports, Coal India and SBI are top gainers while GAIL, NTPC, Tata Motors, Bharti Airtel and Bajaj Auto are losers in the Sensex.

Prime Minister Narendra Modi’s mid-term expansion is taking place with 19 new ministers taking the oath in Rashtrapati Bhavan.

Prakash Javadekar, who currently serves as MoS Environment, has been elevated to the Cabinet rank. Senior Ministers Arun Jaitley, Rajnath Singh, Manohar Parrikar and Sushma Swaraj will retain their Cabinet posts.

The first expansion had occurred in November 2014. There are currently 64 Union ministers, including the Prime Minister, and there can be a maximum of 82 of them under a constitutional bar.


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