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Market trades weak, Sensex loses over 150 points; Indiabulls Housing Finance falls 6%

Market trades weak, Sensex loses over 150 points; Indiabulls Housing Finance falls 6%

Market trades weak, Sensex loses over 150 points; Indiabulls Housing Finance falls 6%
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By Ajay Vaishnav  Jan 29, 2019 1:00:40 PM IST (Published)

At 12.40 pm, the Sensex was down by 94 points, trading at 35,562.56, while the Nifty was lower by 20.50 points at 10,641.

The Indian market continued to trade under pressure as sustained selling in bluechips — Reliance Industries, HDFC, Infosys and HDFC Bank — dragged benchmark indexes amid weak Asian cues. ITC, SBI, ICICI Bank, Sun Pharma and Maruti Suzuki batted for the bulls, helping in limiting losses.

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The Sensex slipped below 35,500, down by 159 points at 1 pm, while the Nifty also fell by over 41 points to trade at 10,620. The benchmark indices started marginally lower in early trade on Tuesday.
Broader markets outperformed with the Nifty MidCap up by almost half a percent. The BSE MidCap was up by 0.34 percent.
Shares of Adani Power, Bank of India, Canara Bank, IDBI, Union Bank, TVS Motor, Page Industries were up by up to 8 percent. Adani Ports, Sun Pharma, Zee Entertainment, Cipla, Bharti Infratel, SBI, Maruti Suzuki and Bajaj Auto, surged between 1-5 percent.
Among sectoral gauges, Nifty PSU Banks was leading 33 advancing sectors. The index surged 2.18 percent, while Nifty Media, Pharma, BSE Telecom and BSE Healthcare were other major gainers. Nifty Energy, which includes Reliance Industries, dipped 0.86 percent. Nifty IT, was also among the 10 declining sectors, slipping over half a percent mark
Among laggards, Indiabulls Housing Finance plunged 6 percent, continuing its downtrend. Eicher Motors, GAIL, Reliance Industries, Power Grid Corp, Yes Bank, Infosys, HDFC were other major losers, falling between 0.8 percent and 3 percent.
The Indian rupee traded at 71.08 against the US dollar at 12.36 pm. The rupee had opened at 71.14
after Monday's close at 71.10 against the greenback.
Also, catch all the action and updates in our Market Live blog.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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