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Sensex sheds 250 pts, Nifty breaks 8300; banks, oil drag

Shares of Infosys, ICICI Bank, Larsen & Toubro, Tata Motors, State Bank of India, ONGC, Axis Bank, Dr Reddy’s Labs, Gail India, Sesa Sterlite and NTPC lost 1-2.5 percent. Index heavyweights Reliance Industries and ITC declined over 0.5 percent.

10:08

The News International Team

Equity benchmarks fell nearly a percent in morning trade following downtrend in Asian equities. The 30-share BSE Sensex dropped 266.23 points to 27564.87 and the 50-share NSE Nifty slipped 76.75 points to 8278.90 weighed by banks, oil, auto, capital goods and metals stocks.

The broader markets too were under pressure, falling nearly a percent. About 571 shares have advanced, 1225 shares declined, and 53 shares are unchanged on the Bombay Stock Exchange.

Shares of Infosys, ICICI Bank, Larsen & Toubro, Tata Motors, State Bank of India, ONGC, Axis Bank, Dr Reddy’s Labs, Gail India, Sesa Sterlite and NTPC lost 1-2.5 percent. Index heavyweights Reliance Industries and ITC declined over 0.5 percent.

However, HDFC, Sun Pharma, Mahindra & Mahindra, Hindustan Unilever and Bharti Airtel bucked the trend, up 0.2-0.5 percent.

Major Asian stocks like Hang Seng, Nikkei and Seoul Composite dropped more than a percent followed by Shanghai with 0.6 percent loss that was up in morning trade.

09:15

Nifty below 8300, Sensex falls 200 pts; sugar stocks rally

GAIL is down 2 percent while Tata Motors, ONGC, Dr Reddy’s Labs and Infosys are major losers in the Sensex. Among the gainers are Sun Pharma, M&M, Bharti Airtel and HDFC.

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