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Rangebound markets end lower

HUL top loser among the Sensex stocks

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The ended today's rangebound session on a weak note. The slipped 77 points to close at 18,676 and the 50-share shed 19 points to close at 5,672.
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(Updated at 2.40 PM)

Markets are trading on a lacklustre note in the late noon deals on the back of profit booking visible in the heavyweight stocks. The Sensex has shed 64 points to 18,689 and the 50-share Nifty has slipped 18 points to 5,672. For the most part of the day marketrs have been stuck ina narrow range and the Nifty has traded in a range of 35 points.

Meanwhile, the Asian markets closed on a weak note as investors shifted their focus to weak economic fundamentals while monitoring progress in the euro zone debt bailout scheme. The Hang Seng slipped 40 points to close at 2,695 and Nikkei slipped
40 points or 0.4% at 9,069.

The European markets were also trading on a weak note with investors refocusing on the gloomy economic outlook and Spain's unresolved debt crisis as euphoria over global monetary stimulus efforts faded. CAC 40 index was down 32 points or 1% at 3,498, DAX slipped 34 points or 0.6% to close at 7,418 and the DAX was at 5,824, down 0.2%.

Back home, Hindustan Unilever was the top loser among the Sensex stocks. it slipped 3.2% to Rs 513. ITC, HDFC, Cipla, ONGC, TCS, GAIL India, Reliance Industries and State Bank of India were also trading weaker by 0.5-2.7% each.

On the other hand, BHEL was the top Sensex gainer the stocks advanced 7% to Rs 248. Jindal Steel, aruti Suzuki, Mahindra & Mahindra, Hindalco, Dr Reddy's Labs, HDFC Bank, Tata Motors, Wipro and ICICI Bank 0.7-4% each.

The BSE FMCG index is the top sectoral loser. Index has shed 1.7% or 93 points at 5,502. Oil & gas, healthcare, IT, teck and PSU indices are also down 0.2-0.8% each.

At the same time, BSE realty index is the top sectoral gainer. Index has advanced 2% or 36 points at 1,813. Power, capital goods, auto, metal, consumer durables and bankexc indices are up 0.5-2% each.

Among the individual stocks, shares of ABG Shipyard were up 10% at Rs 385, ahead of its annual general meeting scheduled for September 27, in which the company has proposed to raise up to Rs 1,000 crore.

IVRCL has surged nearly 5% after bagging orders aggregating Rs 959.04 crore.

The broader markets are outperforming the benchmark indices. The BSE mid-cap index is up 0.5% at 6,464 and the small-cap index has advanced nearly 1% to 6,871.

The overall breadth is positive as 1,618 stocks are advancing while 1,188 are declining.

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