Markets flat on monsoon worries, realty stocks weak
The markets are trading on a flat note with a negative bias. The Sensex is five points at 17,556 and the Nifty is up five points at 5,281 mainly on the back of news of monsoon being below expectations, as per the IMD forecast for the month of July.
The Nifty had opened up 30 points, at 5,303 and Sensex gained 92 points at 17,643 in opening deals. But, markets gave up most of the opening gains soon after opening.
Reliance Industries (down almost 1%) and TCS (down over 1%) pulled down Sensex by over 10 points each. SBI, Jindal Steel, HDFC Bank, HDFC and Bharti Airtel, each down 0.5-1.5%, led to Sensex losing around five points each. Heavyweights like Infosys, ITC and L&T contributed around 10 points each, stocks are up around 1% each.
Some of the notable losers on Nifty are HCL Tech, Reliance Infra, SAIL, Dr Reddy’s, Ranbaxy, Maruti, each down up to 1%. For more visit: Business-Standard
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