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Indian market not going to fall apart
August, 11th 2010

Markets trade near day's lowest point. The Sensex is now down 121 points at 18,101 and the Nifty is trading down 32 points at 5427.

Updated At 2:14 pm

The European markets are trading in the red, led by decline in mining stocks as concerns of recovery loom. FTSE 100, CAC and DAX are trading lower by 1% each.

June industrial output and inflation data from China has dragged the Shanghai Composite down 0.5% to 2,608; Japan's Nikkei average has declined 2.8% to 9,292 due to the rising yen and other Asian indices, including the Hang Seng, Kospi and Taiwan weighted have fallen by almost 1%.

Realty is the top sectoral loser, down 1.2%, dragged by Orbit Corporation, down 3.2% to Rs 129, Unitech has declined 2.1% to Rs 87 and Sobha Developers has fallen 1.6% to Rs 367.

Auto continues to top the gainers list, led by Tata Motors, up 5.2% to Rs 1007.

On the Sensex, Tata Motors continues to lead the gains, followed by Hindalco, up 2.7% at Rs 168, and Jindal Steel has surged 1.2% at Rs 640

On the losers side, M&M has fallen 2.7% at Rs 623, Tata Steel & Wipro are down 2% each at Rs 527 & Rs 419 respectively.

The market breadth has turned negative, with 1,584 stocks declining as against 1,316

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