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Markets flat in choppy trade
July, 28th 2009

The key benchmark indices were flat in early trade amid mixed cues from overseas markets. The benchmark Sensex fell 63 points to 15,311 and the Nifty slipped 0.4 per cent to 4,555.

While buying interest was seen in realty and power stocks, IT and banking counters were under pressure. The realty index on the BSE rose 1.5 per cent on buying in Mahindra Lifespace Developers, Ansal API and Omaxe. The BSE power index gained 0.7 per cent.

The BSE bankex was down over 1 per cent. 

Among the Sensex stocks, Tata Motors was the top gainer. The stock jumped more than 5 per cent on better-than-expected quarterly results. Yesterday, the company reported a 57.5 per cent rise in its net profit at Rs 513.76 crore for the June quarter.

DLF, Tata Power and NTPC were the other major gainers in the pack. However, HDFC Bank, ICICI Bank and ITC were the main losers in the group, down over1 per cent each.

In US markets, stocks edged higher on Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.

The Dow rose 15.27, or 0.2 percent, to 9,108.51, its first finish above the 9,100 mark since Nov. 5.

The broader Standard & Poor's 500 index rose 2.92, or 0.3 percent, to 982.18, while the Nasdaq composite index rose 1.93, or 0.1 percent, to 1,967.89.

Asian markets were trading mixed today. Japans Nikkei and Chinas Shanghai Composite were down over 0.1 per cent each while Hong Kongs Hang Seng rose 0.9 per cent.

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