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Sensex, Nifty trim losses; Midcap, Smallcap rebound

The market breadth was positive as about 991 shares have advanced against 795 shares declined on the Bombay Stock Exchange.

10:00

TheNewsInternational Team

10:15 am New Listings:

Arvind Infrastructure, the subsidiary of Arvind, fell 75 percent to Rs 56.05 in opening trade against Rs 224.05 (the price derived post merger).

Power Mech Projects has opened at Rs 600 apiece, lower compared to issue price of Rs 640. It hit an intrday high of Rs 661.25 on the National Stock Exchange.

10:00 am Market Check

Equity benchmarks cut down early losses while the broader markets rebounded half a percent. The Sensex fell 71.85 points to 25960.53 and the Nifty declined 6.75 points to 7873.95.

The market breadth was positive as about 991 shares have advanced against 795 shares declined on the Bombay Stock Exchange.

Anant Shirgaonkar, Head-India Equities at UBS Securities says this is a good time to buy for investors having a 12-18 month horizon. UBS is not as bullish on midcaps and small caps as it was a few quarters back.

Infosys, TCS and Reliance Industries turned positive, rising marginally. Lupin, ONGC, Wipro, Bajaj Auto, NTPC, Coal India and GAIL gained 1-2 percent.

However, ICICI Bank, HDFC, ITC, HDFC Bank, Axis Bank, SBI and HUL declined 0.5-1 percent.

09:15

Sensex sinks 300 pts, Nifty below 7850 on China volatility

Vedanta, BHEL, Tata Motors, Hero Motocorp, Infosys and HCL Tech fell 2.5-3.6 percent. However, Wipro, Tata Power and Asian Paints gained more than half a percent.

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