Dull trading on Dalal Street continued in the mid-day session, with both the Sensex and the Nifty trading in the red on the back of bearish indications from other Asian markets.

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A private report stated that India’s headline retail inflation rate is predicted to be 7% in June, almost unchanged from 7.04% in May, with a strong increase in vegetable prices likely cancelling out the benefit of the fall in prices of other food products.

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Asian markets were trading mostly in the red with Hang Seng decreasing 595.11 points or 2.74% to 21,130.67, Taiwan Weighted dropping 82.97 points or 0.57% to 14,381.56, Shanghai Composite declined 48.85 points or 1.46% to 3,307.23, Jakarta Composite lost 21.68 points or 0.32% to 6,718.54 and KOSPI fell 2.22 points or 0.09% to 2,348.39. On the flip side, Nikkei 225 surged 328.46 points or 1.24% to 26,845.65.

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The Sensex is now trading at 54,167.40, down 314.44 points or 0.58% after moving in a range of 54,090.53 and 54,291.97. On the index, there were 13 stocks that advanced, 16 stocks that declined, and 1 stock that stayed constant.

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The broader indices were trading mixed with the BSE Mid cap index being down by 0.04%, while the Small cap index was up by 0.40%. The top gaining sectoral indices on the BSE were Power up by 1.94%, Utilities up by 1.90%, Oil & Gas up by 0.74%, Energy up by 0.55% and FMCG up by 0.54%, while TECK down by 3.10%, IT down by 2.83%, Telecom down by 0.92%, Capital Goods down by 0.67% and Industrials down by 0.20% were the top losing indices on BSE.

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The top gainers on the Sensex were Dr Reddy’s Lab up by 2.81%, Mahindra & Mahindra up by 2.19%, Hindustan Unilever up by 0.91%, Titan Co up by 0.87% and Asian Paints up by 0.84%. On the flip side, Bharti Airtel was down by 4.78%, TCS down by 4.25%, HCL Tech. down by 3.33%, Infosys down by 2.91% and Tech Mahindra down by 2.29% were the top losers.

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The Nifty is trading at 16136.10, down 84.50 points or 0.52% after trading between 16,115.50 and 16,175.45. On the index, there were 24 stocks that advanced and 26 stocks that declined.

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The top gainers on Nifty were ONGC up by 3.00%, Dr Reddy’s Lab up by 2.75%, Mahindra & Mahindra up by 2.12%, Divi’s Lab up by 1.32% and Coal India up by 1.05%. On the flip side, Bharti Airtel was down by 4.77%, TCS down by 4.28%, HCL Tech. down by 3.29%, Infosys down by 2.96% and BPCL down by 2.54% were the top losers.