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Sensex Trades Lower; Asian Markets Decline


Benchmark indices opened the day lower, even as Asian cues remained mixed, following lower closings from US markets on Friday.

The Sensex was trading with gains of 60 points, while the Nifty was lower by 13 points in trade.

Sensex Trades Lower; Asian Markets Decline
Shares in Bank of Baroda led Nifty losers after the bank reported a dismal set of quarterly numbers. The stock was down more than 5 per cent in trade, dragging other PSU banks also lower.

Other private sector banks were also lower including the likes of ICICI Bank and Yes Bank.

Shares in Raymond jumped after reports that the company is in talks with overseas private equity funds KKR & Co and Blackstone to sell 20 per cent stake in its branded apparel business.

Ahluwalia Projects jumped after the company secured new projects worth of Rs. 492.65 Crores across its activities.

Cipla, Tata Motors and ITC were the top gainers from the Nifty in early trade. On the other hand NTPC, Tata Steel and Bharti were the top losers.

Midcap stocks were trading with losses, with the index largely being dragged down by PSU banking names like Union Bank, Bank of India and Indian Overseas Bank.

Meanwhile, the rupee also witnessed a decline and was last trading at Rs 66.90 to the US dollar.

Most Asian markets were marginally lower in trade.

Read more about: sensex nifty
Story first published: Monday, May 16, 2016, 9:33 [IST]
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