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Nifty slips as global markets go down.

Markets have opened lower in trades today tracking subdued global cues. The Sensex has slipped 100 points to open at 18,693 and the 50-share Nifty is down 30 points at 5,674.

Global equities and the euro had fallen on Tuesday, knocked by gloomy forecasts from the International Monetary Fund, which said the world economic slowdown was worsening, and pessimism about the U.S. corporate earnings outlook.

BHEL is the top Sensex loser, down nearly 2% to Rs 245. Wipro, Bharti Airtel, State Bank of India, ICICI Bank, NTPC, Larsen & Toubro, Infosys, ONGC, HDFC, Sterlite Industries, HDFC Bank and Coal India have also opened weaker by 1-1.2% each.

On the other hand, Sun Pharma, Cipla, Tata Steel, Tata Motors and Jindal Steel arwe among the notable gainers.

Selling pressure is visible across the board. Realty and banking stocks are amongst the worst hit. The BSE realty index is the top sectoral loser, down nearly 2% or 35 points at 1,855. Bankex, power, capital goods, PSU, consumer durables, IT, oil & gas and autio indices are also down 0.4-1% each.


 

 

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