Midday report: Sensex falls 184 points, Nifty down 80 points

Weak trade continued over the market in late afternoon
session, with both Sensex and Nifty trading in red terrain, despite positive cues
from other Asian markets. Sentiments remained negative, as India’s service
sector lost momentum in July as demand was curtailed by competitive pressures, high
inflation and unfavourable weather.

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The Sensex is trading at 57,952.45, down by 183.91 points or
0.32% after trading in a range of 57,788.78 and 58,307.33. On the index, 8 stocks
advanced and 22 stocks declined.

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The broader indices were trading in red with the BSE Midcap
index down by 1.01%, while the Small cap index was down by 0.58%. The only
gaining sectoral indices on the BSE were IT up by 0.76% and TECK up by 0.57%,
while Telecom down by 1.79%, Auto down by 1.48%, Capital Goods down by 1.32%,
Industrials down by 1.11% and Oil & Gas down by 1.08% were the top losing
indices on BSE.

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The top gainers on the Sensex were TCS up by 0.96%, Tech
Mahindra up by 0.92%, Infosys up by 0.67%, HCL Tech up by 0.64% and Wipro up by
0.45%. On the flip side, Maruti Suzuki down by 2.44%, Kotak Mahindra Bank down
by 2.04%, Bajaj Finance down by 1.34%, Ultratech Cement down by 1.32% and Sun
Pharma down by 1.32% were the top losers.

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The Nifty is trading at 17,265.25, down by 80.20 points or
0.46% after trading in a range of 17,225.85 and 17.385.00. On the index, 12
stocks advanced, 37 stocks declined and 1 stock remained unchanged.

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The top gainers on Nifty were Cipla up by 1.95%, TCS up by
0.95%, Tech Mahindra up by 0.87%, Wipro up by 0.56% and Infosys up by 0.50%. On
the flip side, Maruti Suzuki down by 2.67%, Tata Motors down by 2.43%, Kotak
Mahindra Bank down by 2.01%, UPL down by 1.62% and Ultratech Cement down by
1.57% were the top losers.

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Asian markets were trading mostly in green with Nikkei 225 surging
129.03 points or 0.47% to 27,723.76, Hang Seng increased 120.34 points or 0.61%
to 19,809.55, Jakarta Composite soared 22.37 points or 0.32% to 7,010.53, KOSPI
rose 17.10 points or 0.7% to 2,456.72, Shanghai Composite gained 12.85 points
or 0.4% to 3,199.12 and Straits Times advanced 10.12 points or 0.31% to
3,249.27. On the flip side, Taiwan Weighted dropped 53.97 points or 0.37% to
14,693.26.