Sensex cracks over 200 points; Nifty50 slips below 9,900; Sun Pharma top loser

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          ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESICICI bankEXPAND TO VIEW ALL NEW DELHI: Benchmark indices opened on a negative note on Wednesday, as Asian markets dropped following a sharp fall seen in US stocks overnight.

          At 9.22 am, the BSE Sensex was trading 160 points, or 0.50 per cent lower at 31,649.

          Nifty50 was trading 60.05 points, or 0.60 per cent, lower at 9,892.15.

          «We continue to expect index consolidating in a range of 9,855-10,000 for a while; but, during this, lot of individual stocks are likely to outperform. In such kind of scenarios, traders are advised not to participate in index specific trades; rather keep concentrating on selective midcaps that are showing excellent buying interest,» Angel Broking said in a note.

          The BSE Midcap and the BSE Smallcap indices fell up to 0.3 per cent.

          Just Dial rose 3.7 per cent after HDFC Mutual Fund bought 32.07 lakh shares, or a 4.6 per cent stake, in the comapny at Rs 375 per share on Tuesday.

          Sun Pharma led the Sensex losers. The scrip fell 2.21 per cent to Rs 482.50. Adani Ports, Dr Reddy’s Labs, ICICI Bank and ITC declined up to 1.10 per cent.

          Asian stocks mirrored Wall Street’s slide overnight amid prevailing concerns over tensions in the Korean Peninsula. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 per cent, Reuters reported. Japan’s Nikkei shed 0.55 per cent and Australian stocks lost 0.3 per cent. South Korea’s KOSPI was down 0.2 per cent and on track for its fifth straight day of losses.

          Meanwhile, Noida-based consumer electronics and lightning products maker Dixon Technologies (India) on Tuesday raised Rs 179.8 crore by allotting 10.18 lakh shares to anchor investors at the higher end of the IPO price band of Rs 1,760-Rs 1,766 per share. The issue opens on Wednesday.

          Besides, Bharat Road Network, a Srei Infrastructure Financeinitiative, will sell up to 2.93 crore equity shares in Rs 195-205 range.

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