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    Sensex, Nifty trade lower as IT, pharma, metal slip

    Sensex, Nifty trade lower as IT, pharma, metal slip

    Sensex, Nifty trade lower as IT, pharma, metal slip
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    By Ajay Vaishnav   IST (Published)

    The Indian market traded lower on Tuesday afternoon, dragged by selling in IT, metal, pharma and public sector bank stocks. Weak global cues further weighed on investor sentiment although benchmark indexes outperformed their Asian peers.
    At 11.50, the BSE Sensex traded 152 points lower, at 35,623 while the NSE Nifty50 managed to trade above the 10,700 mark, at 10,707, down by 56 points.
    Broader markets were slightly better as buying gathered pace in midcap stocks of Page Industries, Godrej Properties, Colgate Palmolive, GMR Infra, Dewan Housing Finance, PNB Housing, Ramco Cements and others. The Nifty MidCap was down by 0.15 percent, while the BSE MidCap traded lower by 0.22 percent.
    Sectoral indices were trading mostly lower with Nifty Metal leading the 31 declining sectors with a dip of 1.75 percent, while Nifty IT also slipped more than 1.5 percent. BSE Oil & Gas was leading with nearly half a percent gains among 12 advancing sectors.
    Among top index gainers, Gail, IndusInd Bank, Adani Ports, Eicher Motors, Tata Motors, M&M, Coal India climbed by up to 2.3 percent. Yes Bank, Hindalco, Tech Mahindra, HCL Technologies, UPL, Vedanta, Wipro, Tata Steel and Infosys dipped by more than 5 percent.
    At 12.03pm, the rupee traded at 71.31 against the US dollar. The home currency had opened at more than two-month high on Tuesday against the greenback at 71.45 rising from its Monday's close of 71.64.
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