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Markets slump in late noon trades to end 1.4% lower

This article was posted on Apr 3, 2013 and is filed under Market News

Heavyweights like Reliance, L&T, Tata Motors, ICICI Bank, HDFC Bank, Bharti Airtel, TCS, ONGC and SBI among the draggers

Markets slumped in late trades on Wednesday to close nearly 1.4% down weighed down by selling pressure in index heavyweights. At the close the Sensex was down 263 points at 18,777 and the Nifty gave off 75 points to close at 5,673.

The broader too turned weak in the last hour trade, with the midcap index closing down 1% and the smallcap index weakened by 0.6%.

In Asia, Japan’s Nikkei average jumped 3%, its biggest one-day rise in almost two months, on growing expectations that the central bank will announce further easing steps on Thursday. The benchmark Nikkei rose to close at 12,362.

Hong Kong shares fell for a second day as lower oil prices pulled down the energy sector in thin trade ahead of a holiday break. The Hang Seng Index closed down 0.1% at 22,337, its second loss in three days.

European shares and the euro eased while German bonds were flat on Wednesday as investors awaited this week’s policy decisions by the Bank of Japan and European Central Bank followed by U.S. employment data.

For more visit: Business Standard

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