Sensex, Nifty continue to fall; Arvind up 2%, Axis & ICICI gain

Axis Bank
Benchmark indices remained under pressure in noon trade with the Sensex falling 97.90 points to 28081.18 and the Nifty down 22.15 points at 8686.80.

Dr Reddy’s Labs gained more than 1 percent despite dismal performance in Q2 that was on expected lines due to weak US growth.

Profit plunged 60.1 percent year-on-year to Rs 309 crore on weak operational performance but sequential performance was quite strong.

Arvind climbed over 2 percent as it is going to sell 10 percent stake in Arvind Fashions and to raise Rs 740 crore.

The BSE Midcap too was down 0.3 percent on weak breadth. About 1328 shares declined against 1198 advancing shares on the exchange.

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