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Markets open lower; Nifty below 8,100 mark

The market breadth in BSE is negative with 875 shares declining and 696 shares advancing.

On the global front, Asian shares pared early gains and are trading lower. The benchmark Nikkei is down 0.3%, while the Hang Seng is down 0.2%. Chinese shares are trading marginally up by 0.1% while Singapore’s Straits Times is trading marginally lower by 0.3%.

Stocks on wall Street ended higher on Wednesday but the tech-laden Nasdaq ended lower weighed down by Apple shares. Investors also turned cautious ahead of the ECB meeting on Thursday.

The Dow Jones ended up 0.06% at 17,078.28, the broader S&P 500 closed 0.08% down at 2,000.73 and the tech-laden Nasdaq ended down 0.56% at 4,572.57.


The rupee is trading at 60.46 per dollar vs Wednesday’s close of 60.4850/4950.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 1288.57 crore on Wednesday, 3 September 2014, as per provisional data from the stock exchanges.

Sectors & Stocks:

On the sectoral front, BSE Realty index is the biggest loser down over 1% followed by Capital goods, Consumer durables, Oil & gas and power indices. However, FMCG and Healthcare indices are up by 0.5%.

In the auto segment, Hero Motocorp, Tata Motors and Maruti Suzuki have lost between 0.3-1%. However, Baja Auto is trading marginally in red.

Oil and Gas stocks trading dim in the early session with GAIL and ONGC down 0.6%.

In the capital goods segment, BHEL has declined by 1.6% on profit taking.

Infosys, Tata Power, Hindalco and Axis Bank are some of the prominent names in red down between 0.7-1%.

On the flip side, fresh buying is evident in the pharma space. Cipla and Sun Pharma are up by 2% and 0.8% each.

The technology stocks continue to remain firm on positive US manufacturing activity data released yesterday. TCS and Wipro have gaind by 0.5%.

Cigarette maker ITC has gained 0.5% on fresh buying.

M&M, Cola India and HUL are some of the notable names in green among others.


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