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European markets, which opened after the Indian market, traded on a negative note. Key benchmark indices like – CAC 40 was trading lower by 0.31% at 3,916.59, FTSE 100 declined by 0.19% at 5,817.67 and in Frankfurt, DAX index was trading down by 0.95% at 6,914.97.

The BSE Oil&Gas index was at 9,936.95 up by 217.93 points or by 2.24%. The main gainers were GAIL (India) Ltd. (Rs. 462.30,+4.50%), Bharat Petroleum Corporation Ltd. (Rs. 570.50,+4.36%), Hindustan Petroleum Corporation Ltd. (Rs. 334.25,+4.26%), Reliance Industries Ltd. (Rs. 1017.65,+2.63%) and Cairn India Ltd. (Rs. 346.20,+1.48%).

The BSE Metal index was at 15,676.33 up by 308.55 points or by 2.01%. The main gainers were Welspun Corp Ltd. (Rs. 197.75,+5.64%), Tata Steel Ltd. (Rs. 601.05,+3.27%), JSW Steel Ltd. (Rs. 927.55,+2.85%), Steel Authority of India (SAIL) Ltd. (Rs. 159.65,+2.73%) and National Aluminium Company Ltd. (Rs. 476.00,+2.17%).

On the corporate front, share of Fortis Healthcare Ltd rose 0.88% to Rs 154.05 following reports that the company has signed an agreement with TotipotentRX Therapy to set up stem cell therapy centres and for stem cell clinical trials across its selective hospitals.

On the macroeconomic front, Prime Minister's Economic Advisory Council Chairman C Rangarajan said that to attain higher growth rate, the country has to lower its current account deficit to around 2.5%. The rise in merchandise exports could do a lot to bring down trade deficit. Had the services exports also kept pace this fiscal, trade deficit and the overall CAD would have been much lower under 3%.

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