Sensex frills initial losses, eases 36 pts

Market yardstick BSE Sensex clipped its initial sufferers, but was still quoted lower by 36 points to 25,736.22 at 1100hrs on mild retailing mainly in refinery, energy and consumer durable sectors. The 30-share index opened lower at 25,548.97 and dropped further to 25,409.24 on concerns that future equity inflows into India would be hit in the aftermath of amendments to the bilateral India-Mauritius tax treaty. Meanwhile, it recovered afterwards to 25,742.04 on fresh purchasing at lower levels on the back of good foreign capital inflows before quoting at 25,736.22 at 1100 hrs, still showing a loss of 36.31 points or 0.14 per cent. The NSE 50-share Nifty also eased by 2.35 points 0.03 per cent to 7,885.45 at 1100hrs. Major scums were Dr Reddy's Lab 1.89%, Adani ports 1.31 % , Coal India 1.28 per cent, ONGC 1.1 %  and Bharti Airtel 1.07% . Meanwhile, Axis Bank compressed up by 1.88 %  followed by NTPC 0.96 per cent, Asian Paints 0.86 % , Maruti 0.81 per cent and Tata Steel 0.61 % . In external standard markets, Asian stocks witnessed a mixed trend. US stocks registered broad based gains on Tuesday as oil prices rallied. Foreign Portfolio Investors and Foreign Institutional Investors bought shares worth net Rs 328.59 crores on Tuesday as per the provisional data issued by stock exchanges.

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