Stock market midday report: Sensex down 1100 points, Nifty around 17,100

Bears had a firm grip on Dalal Street in the late morning session, with both the Sensex and the Nifty trading in the red. Domestic sentiment was influenced by negative cues from other Asian markets.

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On the global front, the Nikkei 225 fell 833.34 points or 2.82% to 28,665.94, the Jakarta Composite fell 96.26 points or 1.44% to 6,603.09, the Hang Seng fell 526.61 points or 2.13% to 24,213.55, the Taiwan Weighted fell 293.75 points or 1.66% to 17,360.44, the Shanghai Composite fell 18.00 points or 0.5% to 3,566.18, the Straits Times fell 42.61 points or 1.32% to 3,178.91 and KOSPI fell 47.35 points or 1.59% to 2,932.92.

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The BSE Sensex is currently trading at 57687.05, down 1108.04 points or 1.88% after trading between 57307.08 and 58254.79. On the index, there were four stocks that advanced and 26 stocks that declined.

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The broader indices were trading in the red, with the BSE Midcap index down 1.87% and the Small-cap index down 1.08%.

Healthcare was the only gaining sectoral index on the BSE, up 1.77%, while Realty was down 4.55%, Metal was down 2.91%, Auto was down 2.80%, Oil & Gas was down 2.64%, and PSU was down 2.52%.

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Dr. Reddy’s Lab rose 3.87%, Nestle rose 0.89%, TCS rose 0.54%, and Asian Paints rose 0.20% on the Sensex. The top losers were Maruti Suzuki, which fell 3.76%, HDFC, which fell 3.54%, Tata Steel, which fell 3.53%, Mahindra & Mahindra, which fell 3.49%, and Indusind Bank, which fell 3.17%.

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The CNX Nifty is currently trading at 17195.35, down 340.90 points or 1.94% from a high of 17355.40 and a low of 17088.20. On the index, there were 6 stocks that advanced and 44 stocks that declined.

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The top gainers on Nifty were Cipla up by 6.56%, Dr. Reddy’s Lab up by 3.77%, Divi’s Lab up by 2.04%, Nestle up by 0.80%, and Britannia Inds up by 0.60%. On the flip side, Tata Motors is down by 4.15%, BPCL is down by 4.01%, ONGC is down by 3.97%, Hindalco is down by 3.81%, and Maruti Suzuki is down by 3.80% were the top losers.

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