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6th Straight Day Of Losses for The Sensex; Pharma Stocks Tank
Markets fell again in trade today led by losses in Sun Pharma and HDFC twins.
It was a sixth straight day of losses for the Sensex, even as global markets were quiet, as US Presidential election worries weighed on these markets. European markets fell nearly one per cent as the Presidential race has become even tigher than ever before.
Sun Pharma shares fell as much as 6 per cent, while Dr Reddy's and Aurobindo Pharma were the other stocks that plunged in trade. Shares in Larsen also fell after the government sold its SUUTI holding in the company.
Leading the set of winners were tobacco companies, after hopes that the recent GST tax rates would be favorable and not as bad at it seemed.
ITC led gainers and the stock surged a huge 4 per cent in trade. However, the worst hit were the PSU banking stocks some of which lost 3-4 per cent. Among the big losers were Union Bank of India, Andhra Bank and Syndicate Bank.
Meanwhile, the rupee was seen trading at 66.70 to the US dollar.
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