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Indian Markets Extend Losses
Mon, 20 Apr 01:30 pm

Indian markets extended their losses as BSE Sensex and NSE-Nifty fell over 200 points and 50 points, respectively. While FMCG and IT stocks lost the most, over 1% in today's trade, banking stocks gained the maximum. BSE Mid Cap and BSE Small Cap lost nearly 1%, underperforming the broader indices.

Commodities gained as investors diverted their fund towards precious metals from risky assets. Gold prices gained 0.3% or Rs 90 while Silver prices gained 0.49% or Rs 179. Gold price, per 10 grams, is at Rs 26,900 levels while silver price, per kilogram, is at Rs 36,600 levels. Crude oil price jumped over 1.2% or Rs 44 and is available at Rs 3,650 levels. The value of Indian Rupee against the US Dollar gained 0.38% or 0.24 and is currently trading at Rs 62.60 levels.

Healthcare sector gained traction from investors after witnessing a sell-off of over 3% during the last trading day. Shares of Glenmark Pharma gained over 6% after Singapore based Tamasek Holding (Pvt) Limited revealed that its indirect subsidiary Aranda Investments will be purchasing 3.83% stake valued to be around Rs 9.45 bn. Glenmark said that Temasek will be purchasing the shares at Rs 875 apiece. Apart from Glenmark, shares of Sun Pharma also gained nearly 2%.

Shares of NMDC tanked over 4% after the company decided to slash iron ore prices by 20% or Rs 500 per tonne. The company also decided to slash the lump ore prices by 6.1% or Rs 200 per tonne. These changes will comeinto effect from April 18, 2015. All the mining stocks are trading in the red during today's trading session.

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