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Sensex, Nifty trade volatile; Dabur, Jet Airways stocks drop

Banking, pharma, auto and IT were trading in the green, while realty, metal, media and FMCG stocks drag.
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Equity benchmark indices opened flat with a positive bias on Tuesday tracking mixed Asian markets. The Sensex gained almost 30 points at 38,992, while the Nifty50 was up just 10 points at 11,682.

The Indian rupee opened at 69.83 against the US dollar. The home currency closed at 69.90 against the greenback on Monday. Banking, pharma, auto and IT were trading in the green, while realty, metal, media and FMCG stocks dragged.

The market breadth was negative on the NSE with 722 shares advancing, 823 shares declining, and 530 remaining unchanged.

Shares of Jet Airways fell 10% on reports that the lenders’ consortium has decided to send the debt-ridden airline under the insolvency and bankruptcy code or IBC for the recovery of Rs8,000cr dues.

Meanwhile, gold held steady as investors awaited the start of a two-day monetary policy meeting of the US Federal Reserve for clues on interest rates.

Power Grid, IndusInd Bank and Infosys were among top gainers, while Indiabulls HF, Yes Bank, and HUL among top losers on the NSE.

The Volatility gauge, India VIX was up 1.68% at 14.89.

The most active stocks on the NSE are Yes Bank, Reliance Industries, Indiabulls HF and IndusInd Bank.

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