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Markets in red. ICICI, SBI in deep trouble

Markts have opened down this morning, extending last week’s fall. The Sensex has dropped 195 points to 15,295. Nifty is also down 1% or 60 points to 4,589.

All the sectoral indices, barring consumer durables has dropped into the red. BSE Bankex is leading the losses – down 3% to 9,137. Realty, power and metal stocks are also in the red.
ICICI Bank has dropped 3.5% to Rs 653 while HDFC Bank has shed 3.3% to Rs 402. Bharti AIrtel has slumped 4% to Rs 323. SBI, HDFC, Larsen & Tobro and Sterlite are down 2-3% each. Among other losers are BHEL, Tata POwer and Jaiprkash Associates.

DLF has slipped 2% to Rs 191 on reports that the company plans to hire an investment banker and an international property consultant by mid-January to sell off its Bombay Mills parcel in the country’s western metropolis.

The Sahara group will give a loan of more than 250 crore to Kingfisher Airlines, to help the carrier continue operations, reports suggest. Kingfisher is flat at Rs 21.75.



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