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Sensex decreases, Bharti Airtel speeds up the second day; middle caps are shiny



Indian markets have fallen today and Sensex ended moderately lower. The index fell 72 points, reaching 40,284, while the broader Nifty settled at 11,894. Of the Sensex shares, Bharti Airtel was the biggest gain, an increase of 5%, adding to Friday's increase of 8%. Among other Sensex shares, Tata Steel increased by 4.4%, Sun Pharma 2.4% and PowerGrid 2%.

Wider markets, however, showed some grip. The BSE midcap index increased by 0.45% and the smallcap index by 0.3%.

Some profit taking was observed in selected banking operations. HDFC Bank fell by 1% and ICICI Bank fell by 0.2%. Yes, the Bank was the biggest loser among Sensex shares, falling by 4%.

"On the global front, signs of progress in the US-China trade agreement have improved overall global market sentiment. However, domestic macros do not trust investors. Recently, we have seen concrete steps from the government and RBI growth that will calm the nerves of investors, "said Vinod Nair, head of research at Geojit Financial Services.

"Going further, the RBI will probably focus more on growth than on rising inflation in the near term, which may affect it by several more rate cuts and cause more transmission. Given this scenario, we can see a limited decline for Nifta despite the premium valuation. The likely range of market turnover will be 11,600-2,000, "he added.

Asian markets today have been mixed with great optimism that China and the United States are close to entering into mini-deals. US traders sent Dow above 28,000 for the first time on Friday after Donald Trump's economic advisor Larry Kudlow said the first part of the broader pact is on track while Trade Secretary Wilbur Ross said there would be a deal " high probability. " (With agency input)


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