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Indian Markets slip into the red
Mon, 23 Mar 01:30 pm

Indian markets opened today's session in green with gains of over 100 points. However, the markets retreated from session high and are trading in the red. BSE Sensex is trading with 24 points losses while NSE-Nifty is trading with moderate losses of around 8 points. Among the sectoral indices, auto sector and the power sector have outperformed the market with gains of around 0.4% while Consumer Durables sector has lost the most. BSE Mid Cap and BSE Small Cap funds have underperformed. Midcap and smallcap stocks are trading with 0.7% and 1.0% losses, respectively.

Commodities pared early gains and trading with losses. While the gold prices, per 10 grams, dropped 0.21% or Rs 60 at Rs 26,100 levels; silver prices have fallen nearly 1% or Rs 320 and is trading at Rs 37,470 levels. Crude oil price per barrel fell over 2% after the leading producer of the oil, Saudi Arabia, told that it will not lower its output of oil alone to curb the oil prices. Per barrel, the crude oil has fallen by Rs 55 and is trading at Rs 2890 levels. Indian rupee has fallen for the third consecutive trading day. The value of Indian Rupee fell down 0.2% or 0.10 and is currently trading at Rs 62.28 levels.

Realty stocks are trading in the red, however, companies like NCC and Simplex Infra have gained over 2%. Shares of Brigade estates jumped over 4% after the company unveiled its project to the masses in West Bangalore. The company said that it expects to sell one square of the project, which is named Brigade Panorama, at a minimum of Rs 4,500 per sq ft. The project is spread of 11acre and consists of 2 and 3 BHK homes which starts at Rs 45 lakh.

Steel stocks have witnessed correction in today's trading session. However, Tata Steel emerged as a clear outperformer. Shares of Usha Martin surged 18% in today's trade as it one a coal block under the auction set up by the government. Usha martin has placed the bid price above Rs 1800 per tonne for Brinda and Sasai coal blocks.

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