Wednesday, 28 March 2018

The Indian Rupee Opened Higher At Rs 64.88 Per Dollar On Wednesday

The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday.

Pramit Brahmbhatt of Veracity said, "The rupee is expected to remain in the range of 64.50-65 with a positive bias. Support from the domestic equity market and pressure on US dollar globally may push the USD-INR towards 64.50."

Wall Street closed sharply lower Tuesday, with each of the major US indexes suffering their fourth decline in five sessions, fueled by a selloff in the tech sector. Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook, Reuters reported.

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Benchmark Indices Opened Lower On The Day Of Expiry Of March Derivative Contracts

Benchmark indices opened lower on the day of expiry of March derivative contracts, tracking negative lead from global stocks.

The 30-share BSE Sensex was down 124.15 points at 33,050.24 and the 50-share NSE Nifty fell 56.10 points to 10,128.10.

Tata Steel, Vedanta, SBI and Yes Bank were lowers in early trade. Nifty Midcap was down 146 points.

Kwality plunged 20 percent, hitting fresh 52-week low. Fortis Healthcare, Persistent Systems, Edelweiss Financial, Delta Corp, Balrampur Chini, Indoco Remedies, Bandhan Bank, Cummins and IDBI Bank fell up to 9 percent.

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Tuesday, 27 March 2018

ICICI Securities, The Subsidiary Of ICICI Bank, Finally Closed The Issue

ICICI Securities, the subsidiary of ICICI Bank, finally closed the issue and raised approximately Rs 3,500 crore against total IPO size of Rs 4,017 crore earlier due to tepid response from non-institutional and retail investors on final day yesterday.

The offer was largely supported by qualified institutional investors whose reserved portion fully subscribed on the last day.

“The company has successfully closed its proposed Offer for Sale by ICICI Bank and raised approximately around Rs 3,500 crore," ICICI Securities said.

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Benchmark Indices Started Off Day On A Positive Note, With The Sensex Rising 171.13 Points

Benchmark indices started off day on a positive note, with the Sensex rising 171.13 points to 33,237.54 and the Nifty gaining 54.70 points at 10,185.40.

Tata Steel, IOC, Axis Bank, Wipro, SBI, Bajaj Finance, Tech Mahindra, Hindalco and Vedanta rallied more than 1 percent while Bharti Airtel and Hero Motocorp were under pressure.

Nifty Midcap index was up 154 points as about 8 shares advanced for every share falling on the BSE.

Fortis Healthcare, Punj Lloyd, KNR Constructions, Dilip Buildcon, Dolphin Offshore, MEP Infrastructure, Canara Bank, Can Fin Homes, Corporation Bank, IDBI Bank, Bank of Baroda, Syngene International, Hindustan Zinc and Jet Airways gained up to 8 percent.

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Monday, 26 March 2018

Asian Markets Traded Lower On Monday, Following A Global Sell Off Late Last Week

Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war, CNBC reported.

In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.

Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in two days as investors, increasingly nervous about a potential US trade war with China, shied away from risk ahead of the weekend and sought shelter from further losses, Reuters reported.

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Benchmark Indices Opened Flat Amid Weak Global Cues On Trade War Fears

Benchmark indices opened flat amid weak global cues on trade war fears, after nearly 2 percent loss seen in previous week.

The 30-share BSE Sensex was down 11.99 points at 32,584.55 and the 50-share NSE Nifty was down 6.55 points at 9,991.50.

Tata Steel, Adani Ports, Yes Bank, ONGC, Indiabulls Housing, Adani Ports, Cipla, Sun Pharma, Aurobindo Pharma and ICICI Bank gained up to 2.5%

BPCL, HPCL, ITC, Kotak Mahindra Bank, Coal India, Tata Motors, Axis Bank and Dr Reddy's Labs were under pressure.

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Friday, 23 March 2018

Benchmark Indices Opened Sharply Lower On Friday, Tracking Steep Fall

Benchmark indices opened sharply lower on Friday, tracking steep fall in global peers on US-China trade war worries.

The Sensex fell more than 450 points and the Nifty breached 10,000-mark for the first time in 2018.
About 25 shares declined for every share rising on the NSE.

HCC, Union Bank, Reliance Communications, Bank of Baroda, PNB, Bank of India, Canara Bank, IVRCL, GMR Infrastructure, Nalco, JSPL and SAIL fell up to 7 percent.

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The Indian Rupee Opened Declined In The Early Trade On Friday

The Indian rupee opened declined in the early trade on Friday. It has opened lower by 8 paise at 65.18 per dollar versus 65.10 yesterday.

Bhaskar Panda of HDFC Bank said, "The USD-INR pair will continue to be under a little bit of pressure due to month end/year-end demand. I expect the USD- INR to trade in a range of 65.10-65.30 for the day."

"I expect the 10-year benchmark bond yield to trade in a range of 7.53-7.58 percent today," he added.
Global trade war concerns a day after Fed's message on 3 rate hikes push dollar index to one-month low. 

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Thursday, 22 March 2018

Sun Pharmaceutical Industries Gained 3.4 Percent In The Early Trade On Thursday

Shares of Sun Pharmaceutical Industries gained 3.4 percent in the early trade on Thursday as it has received USFDA approval for its psoriasis drug Ilumya.

Ilumya generically called as tildrakizumab-asmn falls in the category of specialty drugs - medications that treat complex or rare diseases such as cancer, autoimmune disorders, skin conditions among others.

Ilumya is used for the treatment of the most common plaque psoriasis – a chronic immune disease that appears on the skin.

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The Indian Rupee Gained In The Early Trade On Thursday

The Indian rupee gained in the early trade on Thursday. It has opened higher by 9 paise at 65.12 per dollar versus 65.21 yesterday.

Mohan Shenoi of Kotak Mahindra Bank said, "As expected, the Federal Reserve raised Fed Funds rate by 25 bps to balance inflationary risk with elevated growth momentum. However, the dollar weakened across the board as markets re-assessed total increases during the year to 3.”

“The rupee is expected to be rangebound as general dollar weakness is offset by weak equity markets and higher crude oil prices. We expect the USD-INR pair to trade in a range of 64.95-65.25 for the day."

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Wednesday, 21 March 2018

The Rupee Edged Marginally Higher By 1 Paisa To 65.19 Against The US Dollar

The rupee edged marginally higher by 1 paisa to 65.19 against the US dollar in early trade ahead of the Federal Reserve's policy decision today.

Besides, the dollar's weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.

A higher opening in the domestic equity market influenced the currency's movement, they added.

Yesterday, the domestic unit had slipped by 3 paise to end at 65.20 a dollar due to demand uptick for the greenback.

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Benchmark Indices Opened Sharply Higher On Short Covering And Following Positive Lead

Benchmark indices opened sharply higher on short covering and following positive lead from global peers. Investors are interested to see the outcome of Federal Reserve meeting due tonight.

The 30-share BSE Sensex was up 194.69 points or 0.59 percent at 33,191.45, and the 50-share NSE Nifty gained 57.50 points or 0.57 percent at 10,181.90.

Nifty Midcap Index was up 147 points or 0.8 percent.

BEML, Ashok Buildcon, LT Foods, KRBL, KPIT Technologies, Canara Bank, United Bank of India, IDBI Bank, Andhra Bank, Allahabad Bank and Max Financial gained up to 5 percent.

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Tuesday, 20 March 2018

Benchmark Indices Extended Previous Day's Losses In Opening Trade On Tuesday

Benchmark indices extended previous day's losses in opening trade on Tuesday, with the Sensex and Midcap indices falling more than 100 points following weak global cues.

The 30-share BSE Sensex was down 103.21 points at 32,819.91 and the 50-share NSE Nifty fell 32.90 points to 10,061.40.

Vedanta, IOC, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Cipla, Hindalco, Tata Motors and IndusInd Bank were early losers.

Infosys, Indiabulls Housing Finance, UltraTech Cement and Eicher Motors were early gainers.

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Cipla Share Price Declined As Much As 6.6 Percent In Morning Tuesday

Cipla share price declined as much as 6.6 percent in morning Tuesday after the US health regulator issued observations to company's Goa unit.

CNBC-TV18 reports that the unit was inspected by the US Food and Drug Administration during January 22-25, 2018.

Observations are: There is a failure to thoroughly review batch if it’s already been distributed;
Batch production & control records are deficient;

Laboratory records are deficient; records don’t include complete testing data; Established test procedures are not followed.

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Monday, 19 March 2018

The Rupee Depreciated By 9 Paise Against The US Dollar To 65.03 Against

The rupee depreciated by 9 paise against the US dollar to 65.03 against as the greenback firmed up ahead of US Federal Reserve's policy meet this week.

A strong dollar and sustained foreign fund outflow weighed on the domestic unit amid rising current account deficit in the December quarter, a currency dealer said.

The current account deficit rose to 2 percent of the GDP at USD 13.5 billion in the December quarter, up from USD 8 billion or 1.4 percent in the year-ago period, on the back of higher trade deficit, RBI data showed.

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Benchmark Indices Opened The Week Mildly Higher Amid Volatility

Benchmark indices opened the week mildly higher amid volatility and mixed Asian cues on Monday. Political uncertainty after TDP exit from NDA government last week seems digested by the market.

The 30-share BSE Sensex was up 60.89 points at 33,236.89 and the 50-share NSE Nifty was up 21.40 points at 10,216.60.

Vedanta, Aurobindo Pharma, Dr Reddy's Labs, Cipla, Sun Pharma, GAIL, Yes Bank and HUL were early gainers.

HPCL, BPCL, IOC, Hero Motocorp, Axis Bank and Tech Mahindra were early losers.

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Friday, 16 March 2018

Asian Markets Were Mostly Lower On The Last Day Of The Trading Week Amid

Asian markets were mostly lower on the last day of the trading week amid a backdrop of global trade-related developments and news out of Washington.

In Tokyo, the Nikkei 225 gave up earlier gains to slip 0.57 percent and in Seoul, the Kospi edged down 0.49 percent.

China's Shanghai Composite was down 0.12 percent and Hong Kong's Hang Seng dropped 0.3 percent.

The Dow Jones industrial average rose 115 points on Thursday, but the S&P 500 and Nasdaq composite closed lower as investors assessed the possibility of a trade war.

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Benchmark Indices Started Off Last Day Of The Week On A Negative Note

Benchmark indices started off last day of the week on a negative note amid sluggish global cues and trade war concerns.

The 30-share BSE Sensex was down 123.61 points at 33,561.93 and the 50-share NSE Nifty fell 33.10 points to 10,327.10.

Nifty Midcap was up 23 points. Jaiprakash Associates rallied 15 percent. Religare Enterprises lost 4 percent after Edelweiss called off deal with the company.

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Thursday, 15 March 2018

The Rupee Depreciated 9 Paise To 64.92 Against The US Dollar

The rupee depreciated 9 paise to 64.92 against the US dollar on fresh demand for the greenback from importers and banks.

Also, foreign capital outflows amid a lower opening in the equity market weighed on the domestic units.

However, weakness in the US dollar against select currencies on lingering worries of a global trade war limited the fall in rupee, dealers said.

Yesterday, it had ended higher by 6 paise at 64.83 against the dollar as the American unit weakened against major currencies following US inflation data and Secretary of State Rex Tillerson's exit.

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Benchmark Indices Opened Mildly Lower, With The Nifty Hovering Around 10,400 Levels

Benchmark indices opened mildly lower, with the Nifty hovering around 10,400 levels, following negative lead from global peers.

The 30-share BSE Sensex was down 54.89 points at 33,780.85 and the 50-share NSE Nifty fell 11.60 points to 10,399.30.

HCL Technologies, Wipro, Tech Mahindra, TCS, Dr Reddy's Labs, Vedanta, Aurobindo Pharma and M&M were gainers in opening. Nifty Midcap index was up 53 points.

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Wednesday, 14 March 2018

Benchmark Indices Started Off The Day On A Negative Note On Wednesday

Benchmark indices started off the day on a negative note on Wednesday, continuing consolidation for second consecutive session. Weak global cues weighed on market sentiment.

The 30-share BSE Sensex was down 99.50 points at 33,757.28 and the 50-share NSE Nifty fell 37.60 points to 10,389.30.

TCS, HCL Technologies, Tech Mahindra, L&T and Aurobindo Pharma gained strength. Tata Steel, Coal India, SBI, Hero Motocorp, Hindalco, HPCL, BPCL and ONGC were under pressure. The Nifty Midcap index was down 0.3 percent.

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The Indian Rupee Opened Flat At 64.88 Per Dollar On Wednesday

The Indian rupee opened flat at 64.88 per dollar on Wednesday versus previous close 64.89.

Anand James, Chief Market Strategist at Geojit Financial Services said, "Indian rupee got a macro boost with rising IIP and softer CPI eased rate hike fears."

"Rupees gains also followed those in 10 year bonds, while equities rise also attracted demand for the rupee."

"US dollar index in the meanwhile was seen trading firm ahead of US inflation figures for February," he added.

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Tuesday, 13 March 2018

Shares Of Bank Of India Rose 10 Percent In The Early Trade On Tuesday

Shares of Bank of India rose 10 percent in the early trade on Tuesday on the back of recovery of Rs 7,000 crore from other banks.

The bank has recovered Rs 7,000 crore worth Standby Letters of Credit in the last two months and the balance of Rs 2,000 crore would be recovered in another two months, a top bank official said.

The bank has embarked on a plan, following restrictions from RBI on it under the Prompt Corrective Action framework. The bank is aiming to bring down its net NPA ratio substantially, to below 6 percent, he said.

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The Indian Rupee Opened Higher By 9 Paise At 64.95 Per Dollar On Tuesday

The Indian rupee opened higher by 9 paise at 64.95 per dollar on Tuesday versus 65.04 yesterday.

Bhaskar Panda of HDFC Bank said, "The USD-INR pair is hovering around 65 pivot and is looking for a breakout. I expect another tame day today in which the USD-INR pair might trade in a range of 64.95-65.10."

"India's February CPI was below expectations and fear of a sudden acceleration seems like a remote possibility. Hence, the 10-year benchmark bond yield is down and may move towards 7.60 percent gradually," he added.

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Monday, 12 March 2018

Asian Stocks Started Off On A Strong Note, Tracking Stateside Gains In The Last Session

Asian stocks started off on a strong note, tracking stateside gains in the last session on expectation-topping jobs data. The Nikkei 225 was up 1.3 percent while the Kospi index gained 1.2 percent.

Wall Street’s main stock indexes climbed more than 1 percent on Friday, giving investors some solace after a week of huge swings that shook the market out of months of calm.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55 and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

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Benchmark Indices Opened The First Day Of The Week On A Strong Note

Benchmark indices opened the first day of the week on a strong note, following positive lead from Asian peers and Wall Street after better-than-expected US jobs data.

The 30-share BSE Sensex was up 279.23 points at 33,586.37 and the 50-share NSE Nifty gained 88.10 points at 10,315.

Nifty Micdap index was up 160 points and Nifty Bank gained 121 points.

United Spirits, MOIL, SpiceJet, Ashok Leyland, Castex Technologies, Reliance Communications, Adani Power, Gammon Infra, HDIL, Shree Renuka and Suzlon Energy gained up to 4 percent.

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Friday, 9 March 2018

Wall Street Rises As Trump Softens Tariff Plan

The three major US stock indexes closed higher on Thursday after President Donald Trump appeared to soften his stance on trade tariffs, easing trade war fears that had had the market on edge for a week.

Trump announced import tariffs on steel and aluminum but said Canada and Mexico would be exempt and that other countries could apply for exemptions, although details of when they would be granted were thin.

This is something that bites less than what the rhetoric was last week," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.

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Indian Rupee Opens Higher At 65.12 Per Dollar On Friday

The Indian rupee opened marginally higher at 65.12 per dollar on Friday versus 65.14 yesterday.

Bhaskar Panda of HDFC Bank said, "The dollar index had rallied past the 90 mark ahead of US non-farm payroll numbers today. I expect the USD-INR to open a little higher today and trade in a range of 65.05-65.25 for the day."

He further added, "The 10-year benchmark bond yield has started re-aligning to reality after touching a recent high. I expect the yield to trade within a range of 7.64-7.68 percent today."

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Wednesday, 7 March 2018

Benchmark Indices Opened Lower On Wednesday, Tracking Weakness In Dow Jones

Benchmark indices opened lower on Wednesday, tracking weakness in Dow Jones futures that fell 2 percent indicating lower opening on Wall Street.

The 30-share BSE Sensex was down 127.47 points at 33,189.73 and the 50-share NSE Nifty fell 48.30 points to 10,201.

Tata Motors hit fresh 52-week low, falling half a percent. Nifty Midcap index was down 113 points or 0.59 percent. Union Bank, Canara Bank, PFC, Allahabad Bank and Karnataka Bank hit fresh 52-week lows.

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The Indian Rupee Opened Higher By 7 Paise At 64.89 Per Dollar On Wednesday

The Indian rupee opened higher by 7 paise at 64.89 per dollar on Wednesday against previous close 64.96.

Pramit Brahmbhatt of Veracity said, "The rupee will be under pressure on the back of FII outflow and negative cues from the domestic equity market."

He further added, "We expect the spot USD-INR pair to trade in a range of 64.80-65.20 today." The dollar slumped in trade after news of Gary Cohn, a key advocate for free trade in the white house announced his resignation, fanning fears of a trade war.

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Tuesday, 6 March 2018

Asian Stocks Rallied, Tracking Gains Seen In The US And Europe

Asian stocks rallied, tracking gains seen in the US and Europe in the last session as concerns over a potential trade war faded.

Japan's Nikkei 225 jumped 2.28 percent, with the dollar extending gains against the yen as trade-related fears abated.

Hong Kong's Hang Seng, Australia's ASX 200 and South Korea's Kospi gained more than 1 percent.

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Benchmark Indices Opened Sharply Higher On Tuesday

Benchmark indices opened sharply higher on Tuesday after falling for previous four consecutive sessions, aided by positive global cues and short covering.

The 30-share BSE Sensex was up 213.48 points or 0.63 percent at 33,960.26 and the 50-share NSE Nifty gained 65.30 points or 0.63 percent at 10,424.20.

NMDC, Tata Steel, SAIL, JSW Steel, JSPL, Hindalco and Vedanta rebounded with 1-4 percent gains.

About four shares advanced for every share falling on the BSE. Nifty Midcap index was up 166 points or 0.86 percent.

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Monday, 5 March 2018

Markets In Asia Traded Lower As Chinese Leaders Headed Into An Annual Parliament

Markets in Asia traded lower as Chinese leaders headed into an annual parliament meeting while in Italy, exit poll projections indicated that no party is emerging with a clear majority in Sunday's election.

Japan's Nikkei 225 fell 0.68 percent while the Kospi index was down 0.75 percent.

Chinese mainland markets fell, with the Shanghai composite down 0.16 percent while Heng Seng declined 1.3 percent.

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Benchmark Indices Started Off The Week On A Negative Note

Benchmark indices started off the week on a negative note despite BJP won Tripura elections, weighed by weak Asian cues and import tariffs on steel & aluminium in the US.

The 30-share BSE Sensex was down 193.88 points at 33,853.06 and the 50-share share NSE Nifty fell 66.10 points to 10,392.30.

Hindalco, Vedanta, Tata Steel, Aurobindo Pharma, Tata Motors, SBI, Mahindra & Mahindra, Coal India and Ambuja Cements declined 1-3 percent.

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Thursday, 1 March 2018

Equities Have Begun The Day On A Flat Note, With The Nifty Hovering

Equities have begun the day on a flat note, with the Nifty hovering around 10,500-mark.

The Sensex is down 35.91 points or 0.11% at 34148.13, while the Nifty is down 5.50 points or 0.05% at 10487.40. The market breadth was positive as 301 shares advanced, against a decline of 221 shares, while 98 shares are unchanged.

Bajaj Auto and Tata Steel gained the most on both indices, while Infosys and Dr Reddy’s Laboratories have lost the most.

Among global markets, Asian stocks declined on the first trading day of the month after finishing February with losses. Declines in the region also tracked sharp losses seen stateside in the previous session.

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Asian Stocks Declined On The First Trading Day Of The Month

Asian stocks declined on the first trading day of the month after finishing February with losses. Declines in the region also tracked sharp losses seen stateside in the previous session.

The Nikkei 225 declined 1.39 percent, or 307.24 points, on the first day of March. Automakers, technology stocks and financials traded lower.

Heavyweight SoftBank Group lost 0.94 percent, Toyota slid 1.71 percent and apparel company Fast Retailing was off 0.78 percent. Among manufacturing names, Fanuc declined 1.74 percent and Kyocera shed 1.75 percent.

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