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Sensex, Nifty flat; Jindal Steel stock down 2%

Domestic benchmark indices opened flat today taking cues from weak Asian equity markets and US equities overnight. Nifty IT, Nifty Auto and Nifty FMCG were the only sectoral indices trading in green.

At 9:53 AM, the BSE Sensex was trading at 34,414, down 19 points, while the broader Nifty50 was ruling at 10,619, down 13 points.

Jindal Steel and Power fell 2% after CBI pressed bribery charge against Naveen Jindal for irregularities in the allocation of a Jharkhand coal block.

Maruti Suzuki India was up 0.16% at Rs 9,398.85 after the company announced a price increase ranging from Rs 1,700 to Rs 17,000 (ex-showroom- Delhi) across models with effect from 10 January 2018, owing to increase in commodity and other administrative & distribution costs.

Jai Corp stock surged after RIL through its personal investment firms is in talks with the company to buy its 24% stake in Navi Mumbai Special Economic Zone, as per media reports.

Shares of Tata Consultancy Services traded 0.3% lower ahead of the company’s Oct-Dec earnings.

Shares of Infosys rose 1% on reports that the company plans to induct more members on board.

Welspun Enterprises gained 2% to Rs192.40 after the company entered into a concession pact with Madhya Pradesh government for Dewas water supply project.

The BSE Mid-cap and BSE Small-cap indices were up 0.07% and 0.26%, respectively.

Volatility index India VIX gained 0.97%.

Indiabulls HF (+2.1%), Tech Mahindra (+1.4%), Infosys (+0.93%), Tata Motors (+0.52%) and ONGC (+0.43%) were the top gainers on Nifty50.

Cipla (-1.5%), Wipro (-1.4%), HPCL (-1.2%), Coal India (-1%) and Bajaj Fin (-0.89%) were the top losers in today’s trade.

Out of 2,001 stocks traded on the NSE, 802 advanced, 788 declined and 411 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.