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Opening Bell: Sensex opens flat, Nifty holds 12,850; Lakshmi Vilas Bank down 20%

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The Indian equity benchmark indices opened flat on Wednesday following weakness in the global markets amid concerns over rising COVID cases in major countries.

Opening Bell: Sensex opens flat, Nifty holds 12,850; Lakshmi Vilas Bank down 20%
The Indian equity benchmark indices opened flat on Wednesday following weakness in the global markets amid concerns over rising COVID cases in major countries.
At 9:15 am, the Sensex opened 0.06 percent, or 25.87 points, higher at 43,978.58, while the Nifty50 index opened at 12,860.10, down 14.10 points, or 0.11 percent.
Among broader indices, Nifty Smallcap100 traded flat while Nifty Midcap100 indices traded 0.35 percent higher.
Nifty Metals, Nifty FMCG, Nifty IT and Nifty Media witnessed selling pressure while buying was seen in Nifty PSU Bank, Nifty Auto, Nifty Realty and Nifty Financial Services.
Adani Ports & SEZ, Tata Motors, ICICI Bank, SBI and Larsen & Toubro were the top Nifty50 gainers while BPCL, Britannia Industries, Titan Company, Hindustan Unilever and Tech Mahindra were the top index losers.
Shares of Lakshmi Vilas Bank tanked 20 percent after the government placed the bank under moratorium until December 16 and imposed Rs 25,000 withdrawal limit. The RBI has also announced a draft scheme of amalgamation for Lakshmi Vilas Bank with DBS Bank.
Meanwhile, global shares stepped back on Wednesday as soft US retail sales fuelled worries that rising coronavirus cases could stifle a still fragile economic recovery, dampening the euphoria from vaccine trial breakthroughs, Reuters reported.
US S&P500 futures shed 0.3 percent in Asian trade on Wednesday, a day after S&P500 index lost 0.48 percent, while Europe's Euro Stoxx 50 futures eased 0.2 percent.
Japan's Nikkei dropped 0.76 percent, while MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, drawing support from better handling of the pandemic in much of the region.
                                      
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