Sensex down 70 points on weak global cues

Last Updated: Thu, Dec 29, 2011 04:29 hrs

Trading got off to a weak start on the major Indian bourses this morning with investors pressing sales, tracking global markets where the mood remains quite bearish amid renewed worries about the financial situation in Europe.

Metal, power, bank and automobile stocks are among the prominent losers in opening trades. Capital goods, realty and oil stocks are also mostly trading weak. FMCG stocks are quite subdued. Select pharmaceuticals and information technology stocks are finding modest support.

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The Sensex, which declined to 15,619, losing more than 100 points in the process, is now down with a loss of 69.55 points or 0.44% at 15,658.30. The Nifty index of the National Stock Exchange is down 26 points or 0.5% at 4679.80.

Jindal Steel, a big loser in the previous session, is trading weak again. At Rs 442, the stock is down 2.8% at present. Tata Power is trading lower by 1.8%. Tata Steel, NTPC, ICICI Bank, Reliance Industries, Maruti Suzuki, Mahindra & Mahindra and Larsen & Toubro are down 1% - 1.5%.

Hindustan Unilever, State Bank of India, Sterlite Industries, Bajaj Auto, Tata Motors, DLF, Hindalco, HDFC and BHEL are trading lower by 0.5% - 1%. Infosys, Wipro, Tata Consultancy Services and Bharti Airtel are also trading weak.

Reliance Communications, Punjab National Bank, Ambuja Cements, ACC, Reliance Infrastructure, Kotak Bank, IDFC, Siemens, Cairn India and HCL Technologies are down with sharp to moderate losses.

Bucking the weak trend, BPCL, Dr Reddy's Laboratories, Cipla and ONGC have posted modest gains. ITC, HDFC Bank and Sesa Goa are up marginally.

Adani Power, Suzlon Energy, Apollo Hospitals, Torrent Pharma, Indian Overseas Bank, Power Finance Corporation, Thermax and Jet Air India started off on a weak note, and are currently trading lower by 2% - 3.7%.

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JP Infratech has vaulted nearly 10% to Rs 37.85. Wockhardt, Hindustan Petroleum Corporation, Jubilant Foodworks, Divi's Laboratories, EIH, Opto Circuits, Coromandel International and Emami are up 1% - 2.2%.

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