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Markets trade lower on weak global cues

 Markets trade lower on weak global cues
Markets were trading lower on weak Asian cues and profit booking in select counters. The Sensex was trading lower by 30 points, while the Nifty was down 8 points in early trade.

Among the early losers in trade were some of the banking names.

Larsen and Toubro, which had rallied significantly post its results continued to see buying interest in trade today.

HDFC on the other hand which posted results as per market expectations saw some selling pressure and was marginally down.

Banking stocks saw some bout of profit booking with notable losers from the space being Bank of Baroda, Canara Bank, ICICI Bank, State Bank of India and Punjab National Bank.

Yes Bank was up 1.5% ahead of its results to be declared later today.

Technology stocks which lost significant ground on Monday saw buying interest in trade today with HCL Tech and TCS among the early gainers.

Wipro was also up more then 1.5% ahead of its results to be declared later today.

Asian Paints which reported a good set of Q2 numbers rallied for the second day in a row and the stock was up almost 2% again.

Realty stocks were also having a good day in trade with Peninsula Land and Indiabulls among the gainers.

Meanwhile, markets in Asia were trading lower led by losses in the Indonesian Jakarta Composite and the Chinese Shanghai Composite.

Story first published: Tuesday, October 22, 2013, 9:27 [IST]
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