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Nifty holds 10,200 mark; Motherson, NBCC stocks gain

Benchmark equity indices opened flat as gains in ICICI Bank, SBI and HDFC were offset by losses in HDFC Bank, Infosys, Kotak Mahindra Bank and Wipro.

Benchmark equity indices opened flat on Tuesday despite weak global markets, with banking stocks providing some support.

PSU bank stocks gained after the RBI on Monday announced that lenders could spread bond trading losses over four quarters. The Nifty PSU bank index was up 2%. Meanwhile, weakness was seen in Nifty Metal, IT, Media and Realty.

At 10:41 AM, the BSE Sensex was trading at 33,217, down 39 points, while the Nifty50 index was trading at 10,203, down mere 13 points.

The BSE Midcap and the BSE Smallcap indices were up 0.43% and 0.33%, respectively.

Motherson Sumi Systems stock rallied over 5% after the company said it has agreed to acquire Reydel Automotive Group for $201 million.

VST Tillers stock soared over 5% after the company reported 23% yoy volume growth in March 2018. It sold a total of 7,399 units in March 2018 against 6,023 units in March 2017.

Volatility index India VIX gained 1.88% to 15.6375.

HPCL (+3%), SBI (+2.5%), Yes Bank (+1.9%), IOC (+1.7%), Indiabulls HF (+1.6%) were the top gainers on Nifty50.

Wipro (-1.7%), Adani Ports (-1.5%), Eicher (-1.3%), ONGC (-1.2%) and Tech Mahindra (-1%) were the top losers in today’s trade.

Out of 2,011 stocks traded on the NSE, 964 advanced, 607 declined and 440 remained unchanged today.

A total of eight stocks registered a fresh 52-week high in trade today, while 26 stocks touched a new 52-week low on the NSE.

The Indian rupee opened higher at 65.08 versus US dollar against its previous close of 65.18.

Asian stocks extended a global selloff as an escalating trade spat between the US and China sapped investor confidence.