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Sensex down over 200 points, Nifty gives up 11,300 level; auto, metal stocks slip

Sensex down over 200 points, Nifty gives up 11,300 level; auto, metal stocks slip

Sensex down over 200 points, Nifty gives up 11,300 level; auto, metal stocks slip
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By Mousumi Paul  Jul 24, 2019 12:44:20 PM IST (Published)

The Indian equity benchmark indices continued the downtrend on Wednesday, with the Sensex trading at 37,771.53, down 211.21 points or 0.56 percent at 12:00 PM and the Nifty trading lower by 81.85 points or 0.72 percent at 11,249.20.

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In the broader market, the Nifty Midcap 100 and the Nifty Smallcap 100 index slipped over 1.30 percent each.
Zee Entertainment, Bharti Infratel, HDFC, Kotak Mahindra Bank and Hindustan Unilever were top gainers in the afternoon session while JSW Steel, Vedanta, Eicher Motors, Adani Ports and BPCL remained the top laggards.
Nifty Metal was leading among the declining sectors followed by Nifty Realty and Nifty Auto. Only Nifty Media was in the green zone.
Shares of Mahindra & Mahindra Financial Services declined as much as 15 percent to a 52-week low of Rs 289.15 on Wednesday, after the country's largest tractor financier reported a 66 percent slump in its June-quarter consolidated net profit.
HDFC Life shares gained as much as 5 percent to Rs 532.90 after the company reported a near 12 percent rise in June-quarter net profit.
Torrent Pharma share price rose 6 percent after the company's net profit for the first quarter ended June 30, 2019, jumped 33 percent to Rs 216 crore on robust sales. The profit in Q1FY19 stood at Rs 163 crore.
Meanwhile, Asian shares crept higher on Wednesday as the prospect of fresh Sino-US trade talks drew a guarded welcome, while the euro hit lows on a range of counterparts amid speculation the European Central Bank was near to easing policy.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.1 percent and Chinese blue chips climbed 0.8 percent.
 
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