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Nifty slips below 10,750 mark; Tata Motors, Sun Pharma stocks lead

Equity benchmark indices opened lower on Friday tracking negative global cues along with domestic issues of higher bond yields, crude prices as well as weak rupee.

After two day’s gain since the rate hike of RBI, the Sensex rose more than 500 points, the stock markets opened in the red as investors opted for profit booking on Friday.

On the sectoral front, IT, pharma and media index are trading in the green, while banking, financial, metal, realty and auto index are top laggards in today’s trade.

Shares of oil marketing companies are trading weak on the back of higher crude prices. Indian Oil, HPCL and BPCL are trading down by 2% respectively.

At 10:28 AM, the BSE Sensex was trading at 35,358, down 105 points, while the Nifty50 index was trading at 10,736, down 32 points.

The BSE Midcap was up by 0.23% and the BSE Smallcap indices were slightly higher by 0.35%.

Shares of Tata Motors gained 2% after international brokerages maintained their positive stance on the stock.

Sun Pharma (+2.9%), Dr.Reddy’s (+2%), Tata Motors (+2%), Tech Mahindra (+1.9%) and Cipla (+1.7%) were the top gainers on Nifty50.

BPCL (-2%), HPCL (-2%), Power Grid (-2%), ICICI Bank (-1.5%) and IOC (-1.3%) were the top losers in today’s trade.

Out of 2,038 stocks traded on the NSE, 635 advanced, 903 declined and 500 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 42 stocks touched a new 52-week low on the NSE.

The Indian rupee fell by 34 paise at 67.46 per dollar in today’s trade.

The yield on 10-year government bond rose above 8% for the first time since May 2015.

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