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Markets in negative zone

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SI Reporter Mumbai
Last Updated : Mar 05 2013 | 8:37 PM IST

Korean tensions weighed on Asian markets, as North Korea prepared itself to counter any military offensives with South Korea. There were reports, that North Korea conducted 'drills'.

The Sensex traded in a negative zone, down 1% at 19,721, a little above the intra-day low of 19,692. The Nifty also lagged in trade down 1% at 5,908.

ONGC at Rs 1349 and Bharti Airtel at Rs 351, both up 1%, were the top gainers on the Sensex, followed by Wipro at Rs 436.

Losing scrips on the Sensex were HDFC Bank down 3% at Rs 2288, followed by Sterlite Industries at Rs 168 and HDFC at Rs 687, both down 2%.

All the sectoral indices were in negative territory, with the Metal and Banking indices at the lowest end of the chart down 2%. Chinese markets weighed on the metal index, a high-beta index. The Auto index also shed 1%.

The Oil & Gas was the top performer amongst the sectoral indices, followed by the Healthcare and PSU indices.

Geo-political tensions in Asia could further propel the markets downwards; Deepak Singh, Sound Equity and Consulting said in this regard, "Sentiment is weak today and the fall is not a good sign, but if the index dips below 5900 the probablity of a positive trend reduces and the recent high of 6070 will become as resistance."

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First Published: Dec 08 2010 | 12:38 PM IST

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