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Markets see correction. Nifty at 6735

Indian markets have seen correction in the trade today, after witnessing another record high at the close yesterday. Banking stocks have led the correction, while some of the counters from the Minerals & metals space have seen gains on the green side.

The NSE Nifty is at 6735, down by 16 points. The BSE Sensex has seen a decline of 75 points.

Top counters in the Banking space have shown some correction. Bank of Baroda has seen 2.3% decline to trade at 756.75. State Bank of India is down by 2%. Punjab National Bank (PNB) is down by over 2% to trade at 741. Indus Ind Bank has also seen a decline of 2%.

Midcap banking counters have also seen major declines. Oriental Bank of Commerce has seen 4% cuts.

Other counters on the Nifty such as the BPCL and BHEL have also seen corrections of over 1.5% each. GAIL, DLF and LT have all seen 1% cuts.

Some of the metals & mineral stocks are trading in the green. NMDC is up by 2.8% at 142.80. Jindal Steel is up by 2.3%. SSLT has seen a upsurge of 0.7%. JSW Steel is up by 2%.
Ultratech Cements is up by 1.7%. Asian Paints, Dr. Reddy’s and IDFC are also trading in the green with nearly 1% gains.

The NSE Midcap index is down by 55 points while the Nifty Junior index has seen a decline of 82 points.

Sriram Transport Finance is down by 4.2%. Reliance Capital has seen a decline of 4%. PFC, Mphasis and REC Ltd. – have also seen cuts of 2%.



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