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Indian markets tumble
Tue, 11 Aug 01:30 pm

Indian Indices have extended their losses in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the software and pharma sectors leading the gains. However, banking and steel stocks are trading in the red.

The BSE-Sensex is trading lower by 150 (down 0.5%) and the NSE-Nifty is trading down by 46 points (down 0.5%). The BSE Mid Capindex and the BSE Small Cap index are trading down by 0.5% and 0.7% respectively. Gold prices, per 10 grams, are trading at Rs 25,213 levels. Silver price, per kilogram, is trading at Rs 35,015 levels. Crude oil is trading at Rs 2,866 per barrel. The rupee is trading at 64.05 to the US dollar.

Most of the telecom stocks are trading negatively with AGC Networks and ADC India Communications bearing the maximum burnt. According to financial times, Bharti Airtel has reduced the rates of its home broadband plans by up to 30% for all new activations as the company won't be charging any premium for higher speed. The company today said that all its broadband customers will get a minimum speed of 2 Mbps with a upper limit of 16 Mbps. With the launch of free calling, the company's customer talking voice calling facility on broadband connection has increased to 85% as against the earlier level of 40%. It has about 15.4 lakh broadband customers. Scrip of Bharti Airtel is presently trading down by 1.4%.

Stocks in the energy sector are trading on a mixed note with Chennai Petroleum and Petronet LNG leading the gainers. As per a leading financial daily, Hindustan Petroleum Corporation (HPCL) has launched eco-friendly Bio-Diesel Blended Diesel B5 HSD in New Delhi, Visakhapatnam and Hyderabad. The initiative by the company is for promoting greener fuels and finding alternate fuels to reduce our carbon footprint. The environment friendly fuel has almost no sulphur or aromatics and has about 10% built in oxygen. The company operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai and the other in Visakhapatnam. Currently the stock of HPCL is trading down by 1.5%.

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