Equity Alert: Shares indices down 3% tracking weak overseas markets

[K.Karthik Raja]

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Equity Alert: Shares indices down 3% tracking weak overseas markets
MUMBAI--10:10AM--Share indices were down nearly 3% in early trade
tracking
fall in overseas market, dealers said.
Investors are cautious ahead of the outcome of the meeting among
the four
Left parties later today, dealers said.
Sensex was at 13165.31 points, down 360.68 points, or 2.7%. Nifty
was at
3918.60 points, down 111.40 points, or 2.8%.
State Bank of India fell 5% on a report the bank is likely to
suffer a
7-bln-rupee hit in the Apr-Jun quarter due to mark-to-market losses in
bonds.
Realty stocks were worst hit among Nifty shares. Unitech was down
6%, and
DLF fell 4%.
Suzlon Energy, and Tata Power were down nearly 4% each.
Tata Communication, up over 2%, was the sole Nifty gainer.
First Winner Industries listed at 110 rupees as against an issue
price of
125 rupees. The shares were trading at 90.20 rupees.
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