Nifty holds 8600 amid pressure; Asia mixed, Brent oil at $50/bbl

Equity benchmarks remained under pressure in noon trade with the Sensex falling over 100 points, weighted down by technology, banks and auto stocks. However, HUL, ITC and HDFC continued to support the market.

The Sensex fell 145.18 points to 27931.82 and the Nifty declined 50.65 points to 8616.25. 

About 1302 shares declined against 1089 advancing shares on the BSE.

Asia markets traded mixed, with traders likely holding their horses ahead of a speech from Federal Reserve chair Janet Yellen at Jackson Hole on Friday. China's Shanghai and Hong Kong's Hang Seng were down over 0.4 percent whereas Japan's Nikkei closed 0.3 percent higher.

Oil prices fell as analysts doubted upcoming producer talks would rein in oversupply, saying that Brent would likely fall back below USD 50 a barrel as August's more than 20-percent crude rally looks overblown. Soaring exports of refined products from China also pressured prices, as this was seen as the latest indicator of an ongoing global fuel glut, traders said.

Brent crude futures were down 1.77 percent at USD 49.98 a barrel and US futures fell 1.59 percent to USD 47.75 a barrel.

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