Bears tighten grip, Sensex falls 250 pts; PSU Bank index up 1%

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Wockhardt, KPIT Technologies, Emami and Laurus Labs declined 1-4 percent while MOIL, Ester Industries, and Mahindra Logistics were down 3-10 percent.

Shares of MOIL rose more than 4 percent in morning as a company to consider buyback of its equity shares.

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The meeting of the board of directors of the company will be held on February 05 to consider the proposal for buyback of the fully paid-up equity shares of the company.

10:15 am Market Update: Bears tightened their grip on Dalal Street in the morning session as benchmark indices extended losses, with the Sensex falling around 250 points due to selling pressure in banking & financials, technology, FMCG and pharma stocks.

However, PSU Bank index bucked the trend, rising over a percent.

The 30-share BSE Sensex was down 247.81 points at 36,035.44 and the 50-share NSE Nifty fell 86.10 points to 11,044.30 while the Nifty Midcap index shed 0.8 percent.

About four shares declined for every share rising on the BSE.


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