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Sensex, Nifty slip 1%, rupee down 50p; HUL, Reliance gain

Sesa Sterlite, GAIL, Axis Bank, Tata Power and ICICI Bank are major losers while Dr Reddy’s Labs, HUL, Coal India, Cipla and Reliance are top gainers in the Sensex.

10:10

The News International Team

Profit booking is dragging benchmark indices as the Sensex is down 343.04 points or 1 percent at 29105.91. The Nifty falls 111.40 points or 1 percent at 8826.35. About 690 shares have advanced, 1240 shares declined, and 157 shares are unchanged.

Sesa Sterlite, GAIL, Axis Bank, Tata Power and ICICI Bank are major losers while Dr Reddy’s Labs, HUL, Coal India, Cipla and Reliance are top gainers in the Sensex.

The rupee plummeted by 50 paise to 62.66 against the US dollar in early trade today as the American currency strengthened overseas. Forex dealers said besides the dollar’s gains against other currencies overseas on an upbeat US jobs data, fresh demand from importers for the Greenback and a weak opening in the domestic stock market put pressure on the rupee. The domestic unit had gained 9 paise to finish at 62.16 against the American currency on Thursday on the back of dollar selling by banks and exporters amid rise in equities.

09:14

Sensex tanks 300 pts, Nifty breaks 8900; banks, IT drag

The market opened sharply lower on first day of the week with the Sensex falling 310.43 points or 1.05 percent to 29138.52 on weak global cues. Banking & financials and technology stocks pulled the market down.

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