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Nifty down in trade.

Markets trade lower, as the benchmark indices Sensex and Nifty have fallen in the red. The Sensex has seen a cut of 100 points while the Nifty is down by 38 points.

The disappointment is largely seen as a reaction to the European Central bank’s inaction to take any step to check the Eurozone crisis. The ECB has kept the interest rates unchanged.

Some of the banking stocks have seen declines. SBI, ICICI Bank and Axis Bank are on the down side. Metal stocks Sterlite, Hindalco, Sesa Goa were also down. JSPL, M&M, Tata Motors, JP Associates, HCL Tech and L&T were down in early trade.

Some of the pharma counters including Dr. Reddy’s have been in the green. NTPC and ONGC are also in the green. Glenmark Pharma was up over 1%.

Mahindra Satyam is up by 4%, after it came up with good results.


 

 

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