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Markets subdued. Tata Power down 2%

The Nifty and the Sensex have continued to slide down in the trade today, in the wake of weak global cues and economic outlook. The Sensex has slid by 75 points at 20779.

The Nifty is down by 25 points at 6186, down below the crucial 6200 mark. Analysts are of the opinion that if Nifty continues to close down below the 6200 mark, then fresh shorts would be initiated until the index corrects and starts its journey upwards.

Tata Power is the major loser on the index. The stock is down by 2% and is trading at 82.55. Reliance Industries has also lost 1.2%, dragging the index lower.

NMDC, PNB, Bank of Baroda have all lost over a percent each, bringing down the Nifty index.

Capital goods leader LT continues to trade lower for the 4th consecutive session. The stock is down by 0.8% to trade at 1002.

ONGC is however trading with good gains. The stock is up by 1.8%. Tata Motors has also gained 1%. Ranbaxy and BHEL have also gained over a percent each.

The CNX Midcap index is down by 18 points at 7946. Oriental Bank of Commerce has lost 2.3%. Other midcap banking counters such as Allahabad bank, Syndicate Bank, Union Bank and Andhra Bank have all lost 1%.

Media stock Zee Limited has gained 2% and is trading at 286.90.



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