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Sensex slips 200 points; Yes Bank, Bajaj Auto stocks fall

The market breadth was negative with 511 shares advancing, 1,069 shares declining, and 484 remaining unchanged.
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CAPITALSTARS FINANCIAL ADVISORY COMPANY
Equity benchmark indices opened on a flat note on Monday but slipped into the negative zone minutes after trading. The Sensex is down 200 points at 35,612, while the Nifty slipped 60 points at 10,664. The market breadth was negative with 511 shares advancing, 1,069 shares declining, and 484 remaining unchanged.

In the broader market, BSE MidCap index was trading 13 points higher at 13,953, while BSE SmallCap index was ruling at 13,259, up 7 points.

The Indian rupee opened lower by 8 paise at 71.31 against the US dollar amid rise in crude oil prices.

On the sectoral front, IT, metal, banking and pharma indices were trading higher by almost 1% respectively.

Shares of Yes Bank opened 8% down in Monday’s morning trade after the lender received a letter from the Reserve Bank of India (RBI) warning that the company might face regulatory actions for violating a confidentiality clause by disclosing a nil divergence report.

Dr.Reddy’sNTPCVedanta, and Tata Steel are trading higher on the NSE, while Yes Bank, Bajaj AutoHUL, and Titan are trading lower.

Volatility index India VIX was up 5.23% at 16.59.

The most active stocks were Yes Bank, RIL, Dr.Reddy’s, TCS, Reliance Infra.

Asian stock markets were trading higher on Monday morning, with trade talks between the US and China set to continue in Washington this week after high-level meetings in Beijing concluded last week. Minutes of the Federal Reserve's last policy meeting are due on Wednesday and should provide more guidance on rate hikes this year.

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