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CNBC TV18 Opening Bell: Sensex, Nifty start flat on weak Asian cues; Titan falls over 5%

CNBC-TV18 Opening Bell: Sensex, Nifty start flat on weak Asian cues; Titan falls over 5%

CNBC-TV18 Opening Bell: Sensex, Nifty start flat on weak Asian cues; Titan falls over 5%
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By Ajay Vaishnav  Oct 9, 2019 10:04:25 AM IST (Updated)

The 30-share benchmark S&P BSE Sensex started marginally higher at 37,543.70 in the initial trade, while the broader 50-share NSE Nifty50 fell mildly to trade at 11,122.

The Indian market started on a flat note on Wednesday as fresh trade war tensions, slowdown concerns and stress in the banking industry weighed on trade sentiment amid sustained foreign fund outflows.

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Asian markets traded under pressure following reports that US President Donald Trump and his administration have put visa bans on Chinese officials linked to the mass detention of Muslims in the country's restive Xinjiang province.
The Trump administration measure came in a day after it put 20 Chinese public security bureaus and eight companies to a trade blacklist.
The 30-share benchmark S&P BSE Sensex started marginally higher at 37,543.70 in the initial trade, while the broader 50-share NSE Nifty50 fell mildly to trade at 11,122.
Broader market indices slightly outperformed with the Nifty MidCap 100 index up by 0.13 percent.
The banking gauge, Nifty Bank, rose 0.08 percent. Among other sectors, IT, finance, pharma, FMCG, auto, metal and CPSE declined while bank, consumer durables, telecom and media advanced.
Among stocks, M&M, ICICI Bank, Tata Motors, Cipla and Britannia gained by up to 1.45 percent.
Titan slipped 5.6 percent as HSBC cut the multi-bagger's target price to Rs 1,410 from the previous Rs 1,450 per share.
Yes Bank fell over 3.5 percent, while HCL Tech, ONGC and UPL were other major laggards.
In the currency market, the Indian rupee slipped in the early trade on Wednesday, opening lower by 16 paise at 71.18 per dollar against Monday's close of 71.02.
Asian markets mostly traded lower with Japan's Nikkei slipping 0.68 percent at 9.44 am IST. Hong Kong's Hang Seng declined 0.67 percent, while South Korea's Kospi outperformed, rising 1.1 percent.
 
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