Sensex flat; SBI, ICICI Bank, DLF, HDFC, RComm dip

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The Sensex was flat in the opening trade and continued its consolidation in today's trade as well. Realty and telecom stocks slipped in red today as well while select metal and cement stocks were the gainers.

At 9:56 am, the Nifty was down 6 points at 4,875 and the Sensex fell just 22 points at 16,417. However, the CNX Midcap was up just 6 points at 7,003. About 373 shares advanced while 320 shares declined on the NSE. 

Among the frontliners, Sterlite Industries, M&M, Tata Motors (moved to Rs 600), Reliance Industries, Reliance Infrastructure, Cipla, ACC and Ambuja Cements were gainers.However, Idea Cellular, Bharti Airtel, Reliance Communications, Suzlon Energy, Maruti, DLF, Unitech, SBI and Cairn declined.

Midcap space:

Eastern Silk shot up 9%. Golden Tobacco was up 5% as it reacted positively to GST news.

Taj GVK, HMT and ITI were up 1% each. NMDC was up another 7.5%, after 20% upper circuit for last two days.

Educomp gained 3.5%. Sesa Goa and Mercator Lines were up 2-3%.

However, Pyramid Saimira lost 10% as the SEBI barred company from securities market for 7 years in IPO irregularity case.

Jai Corp fell 5% after rally in last few days.

Global Cues:

Asian markets were mixed in trade. Taiwan Weighted gained 1% and Hang Seng was up 0.75%. Straits Times and Jakarta were up 0.2% each. However, Shanghai fell 0.64% and Kospi was down 0.2%.

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