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Markets flat. IT stocks down.

Markets started on a flat note on Friday, amid weak Asian cues.

At 9:30AM, the 30-share Sensex was down 22 points at 18,484 and the 50-share Nifty was down five points at 5,570.
Maruti Suzuki up 2% along with Gail India, Tata Motors, BHEL, Bajaj Auto, Reliance Industries and ONGC up 1% were the top gainers among the Sensex-30 in the opening trades.

On the negative side, ITC, TCS, HDFC and ICICI Bank opened down 1-2% followed by Wipro, NTPC, Infosys and HDFC Bank down 0.2-0.6%.

Shares of sugar manufacturer have rallied up to 20% in opening deals after the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to abolish the levy-sugar mechanism, under which private millers have to sell a specified quantity of the sweetener to the government at concessional rates.

Bajaj Hindustan, Shree Renuka Sugars, Balarampur Chini Mills, Mawana Sugars, Oudh Sugars and Dhampur Sugar Mills are trading higher in the range of 10 to 20%.



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