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Sensex opens lower on weak global cues

The Indian benchmark indices witnessed a weak opening for the second consecutive session on Monday tracking weak opening in Asian stocks. Asian stock markets fell today as Eurozone concerns overshadowed better-than-expected jobs data from the United States showing unemployment almost at a four-year low.

Back home, Realty, Capital Goods and Oil & Gas stocks were under selling pressure today. Real estate major DLF Ltd tanked over 4 per cent amid ongoing controversy over its deals with Robert Vadra, the son-in-law of UPA chairperson Sonia Gandhi. DLF has been accused of providing unsecured loans to Vadra for buying its own assets at throw away prices.

At 9:34AM BSE SENSEX was at 18890.41 down by 48.05 points or by 0.25 % while, NSE Nifty was at 5732.8 down by 14.15 points or by 0.25 %.

The BSE MIDCAP was at 6696.53 up by 17.76 points or by 0.27 %, while the BSE SMLCAP was at 7168.28 up by 22.57 points or by 0.32 %.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1434, shares advanced were 838 while 529 shares declined and 67 were unchanged.

Kingfisher Airlines continued its southward journey today and was down over 4 per cent amid reports that lenders have refused to pay any further loan to the company and may set a deadline of two-months to infuse fresh equity in the company before liquidating its pledged assets.

Reliance Industries Ltd (RIL) was down over 1 per cent on the reports that it has refused oil ministry’s order to swap its KG-D6 block with Bhagaynagar Gas saying “trading” in scarce natural resource was not permissible under gas utilisation policy.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 695.45,+1.70%), Cipla Ltd. (Rs. 367.70,+0.97%), Maruti Suzuki India Ltd. (Rs. 1401.00,+0.91%), Tata Motors Ltd. (Rs. 282.60,+0.80%), Jindal Steel & Power Ltd. (Rs. 420.10,+0.73%), among others.

In BSE, BSE_HCS index was at 7482.86 up by 55.71 points or by 0.75%. Aurobindo Pharma Ltd. (Rs. 141.90,+2.53%), Apollo Hospitals Enterprise Ltd. (Rs. 795.00,+2.51%), Sun Pharmaceutical Industries Ltd. (Rs. 695.45,+1.70%), Ipca Laboratories Ltd. (Rs. 448.75,+1.56%), Glenmark Pharmaceuticals Ltd. (Rs. 406.00,+1.23%).

In BSE, BSE_CDS index was at 7207.62 up by 47.03 points or by 0.66%. Gitanjali Gems Ltd. (Rs. 379.00,+3.33%), Bajaj Electricals Ltd. (Rs. 204.40,+1.69%), Titan Industries Ltd. (Rs. 271.15,+0.91%), Whirlpool of India Ltd. (Rs. 262.00,+0.67%), TTK Prestige Ltd. (Rs. 3725.00,+0.11%).

 

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