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Sensex, Nifty Open Flat Despite Strong Macro Economic Data


Benchmark indices opened the day higher on the back of IIP data, which came in stronger than expected and lower than expected inflation numbers.


The Sensex was last trading with losses of 15 points, while the Nifty was up 5 points in trade. Shares in Infosys dragged the Nifty lower with the stock losing almost 1.6 per cent in trade. Other notable losers were some of the PSU banks including the likes of State Bank of India and Syndicate Bank. Losses in PSU banks was despite inflation coming in lower then expected.

Sensex, Nifty Open Flat Despite Strong Macro Economic Data
Shares in IndusInd Bank were up 1.5 per cent ahead of its results to be declared later today. Other private sector banking stocks were trading lower with ICICI Bank and HDFC Bank trading with marginal losses.

Shares in Brookes Labs was trading lower after SEBI imposed a penalty of Rs 11.80 crore on Brooks Lab and top 5 executives.

Biocon was up after the company completed a 10 percent stake sale in Syngene to IVF Trustee. Real estate stocks were also trading lower in line with the markets. DLF and Unitech were among the losers.


Meanwhile, markets across Asia were trading with gains led by the Shanghai Composite and the Singapore's Strait Times.

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