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Markets slips on Indo-Pak tensions, Nifty tests 10,800; all sectoral indices in red

Markets slips on Indo-Pak tensions, Nifty tests 10,800; all sectoral indices in red
The Indian market opened lower on Tuesday, with the S&P BSE Sensex breaking 36,000 and Nifty50 testing 10,800 levels on reports that Indian Air Force attacked terror camps in Pakistan-occupied Kashmir.
According to ANI sources, in an operation that took place at around 3.30 am on Tuesday, the IAF destroyed Jaish-e-Mohammed's camps across the Line of Control (LoC). However, there is no official confirmation on the operation carried out by IAF as yet.
The S&P BSE Sensex opened at 35,986, down 226 points while the broader Nifty50 index was trading at 10,830, down 49 points. Broader markets under-performed the frontline indices with Nifty Midcap and Nifty Smallcap down 1 percent each.
Meanwhile, rupee also fell 29 paise to 71.27 per dollar, dampening the investor sentiment.
Except 4 stocks, all other Nifty50 stocks were trading in the red. Top losers included Yes Bank, Indiabulls Housing Finance, Hindalco, Tata Steel and SBI, down in the range of 1.5-2.5 percent.
All sectors were trading in the red in the early morning deals. Nifty Realty fell the most, down 2.8 percent, followed by Nifty PSU Bank (down 1.8 percent), Nifty Metal (down 1.6 percent) and Nifty Auto (down 1.4 percent).
Globally, optimism over US-China trade talks and report that UK Prime Minister Theresa May could seek to delay a Brexit deadline are expected to influence investor sentiment on Tuesday.
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