Sensex extends losses, Nifty breaks 7950 Sun Pharma rebounds-Sai Proficient

Lewis Alexander of Nomura says as Asia sails into 2017, trying to stay on an even keel will be more challenging than in 2016.

There are too many large risks stacked to the downside, according to him. He expects central banks of Australia, India, Korea, Malaysia and Thailand to all cut rates further in 2017, which would lead to a major decoupling of Asia monetary policy from that of the Federal Reserve.

Stock Market News-Sai Proficient
        Stock Market News-Sai Proficient

Over time, once the storm passes, Alexander sees a growing divide in Asia in coming years, as its striving cubs like India, Indonesia, the Philippines and Vietnam unlock their full growth potential.
The market extended losses in morning trade with the Nifty breaking 7950 level, dragged by FMCG and technology stocks.

However, buying in oil and select banking & financials stocks arrested the fall.
The 30-share BSE Sensex fell 79.56 points to 25900.04 and the 50-share NSE Nifty slipped 28.70 points to 7950.40.
The broader markets also traded lower with the BSE Midcap and Smallcap indices falling 0.3-0.5 percent on weak breadth.

About 1036 shares declined against 707 advancing shares on the BSE.
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