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Markets End Flat; Chinese Markets Tank 6%


Benchmark indices ended the day marginally lower despite solid gains in tech stocks on weak global cues, particularly from China. The Sensex ended the day lower by 47 points, while the Nifty dropped 11 points, even as the Chinese Shanghai Composite fell a huge 6 per cent.


There were also worries that the monsoon deficit had widened. Check top Nifty gainers and losers

Markets End Flat; Chinese Markets Tank 6%
Shares in tech stocks saw some buying support after a foreign brokerage upgraded Infosys after a meeting with the top management of the company.

Top Sensex gainers were Infosys and TCS. Stocks from the Nifty that lost ground were Coal India, Gail, Hindalco and Vedanta.

Shares in Sun TV fell a huge 5% after reports that the government has decided to challenge the decisions of the Madras and Delhi High Courts allowing Sun Group to participate in the FM radio phase-III auction.

Eicher Motors gained ground after reports that it announced its first operating direct distribution subsidiary outside India, in North America.

United Bank of India gained ground after the bank cut its key deposit rates. Shares in coffee producers like Tata Cofee and Tata Beverages soared after reports of the govt considering FDI in the plantation sector.


Meanwhile, markets across Asia ended the day lower after the Shanghai Composite tanked a huge 6 per cent in trade.

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