Stock market midday report: Sensex declines 60 points, Nifty around 18,300

Despite positive cues from other Asian markets, Indian equity benchmarks were trading in the red region during the late morning session; Hang Seng gained 338.75 points or 1.31 % to 26,125.96, Nikkei 225 gained 60.64 points or 0.21 % to 29,276.16, Shanghai Composite gained 1.23 points or 0.03 % to 3,594.38, and Straits Times advanced 0.29 points or 0.01 % to 3,199.30. KOSPI lost 7.59 points, or 0.25 %, to 3,021.45 and Taiwan Weighted declined 18.62 points, or 0.11 %, to 16,882.05.

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The BSE Sensex is now trading at 61654.66, down 61.39 points or 0.10 % from a low of 61489.69 and a high of 61880.36. On the index, there were 12 stocks that advanced and 18 stocks that declined. The wider indexes were trading in the negative, with the BSE Midcap index down 0.94 % and the Small-cap index down 1.31 %.

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The top gaining sectoral indices on the BSE were Telecom up 2.82 %, TECK up 0.78 %, Bankex up 0.25 %, and IT up 0.23 %, while Consumer Durables were down 2.31 %, Metal down 2.04 %, Utilities down 1.52 %, Basic Materials down 1.41 %, and Power-down 1.39 %.

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Bharti Airtel gained 3.76 %, SBI gained 3.27 %, HCL Tech. gained 1.87 %, Tech Mahindra gained 1.59 %, and ICICI Bank gained 0.99 % on the Sensex. On the other hand, Titan Co is down 2.37 %, Bajaj Finserv is down 1.41 %, ITC is down 1.22 %, Mahindra & Mahindra is down 1.15 %, and Bajaj Auto is down 1.11 %.

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The CNX Nifty is now trading at 18380.60, down 38.15 points or 0.21 % from a low of 18326.95 and a high of 18458.30. On the index, there were 18 stocks that advanced and 32 stocks that declined.

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Bharti Airtel gained 3.69 %, SBI gained 3.37 %, HCL Tech. gained 1.86 %, Tech Mahindra gained 1.63 %, and Ultratech Cement gained 1.08 % on the Nifty. The biggest losers were Hindalco, which fell by 4.00 %, Coal India, which fell by 2.68 %, Eicher Motors, which fell by 2.42 %, Titan Co, which fell by 2.37 %, and BPCL, which fell by 1.81 %.