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Stocks open lower in line with Asian peers
National Stock Exchange's benchmark Nifty on Tuesday fell 41.20 points to
4441.

Bombay Stock Exchange's 30-share Sensex shed 162 points to 14782 from
Monday's close.

"The markets are in for some consolidation after a solid rise yesterday.
Today might be a day of further profit booking, especially in the power
sector as investors realise that the Nuclear sapling planted now will take
time to bear fruits," said Anagram Broking.

US stocks rose on Monday as investors bet Washington's bailout of mortgage
finance giants Fannie Mae and Freddie Mac would stabilize the US housing
sector and calm jittery world financial markets.

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The Dow Jones Industrial Average closed up 290.18 points, or 2.59 per cent,
at 11,510.49. The Standard & Poor's 500 Index finished up 25.48 points, or
2.05 per cent, at 1,267.79 and the Nasdaq Composite Index was up 13.88
points, or 0.62 per cent, at 2,269.76.

However, Asian equities sulked amid continued uncertainty over the health of
the global economy. At the time Indian equities opened for trade, the Nikkei
tumbled 1.5 per cent, the broader TOPIX lost 1.76 per cent, Hang Seng shed
2.24 per cent and Straits Times was down 1.65 per cent.

US oil prices rose slightly on Monday as Hurricane Ike headed for the US
Gulf of Mexico's cluster of offshore rigs, most of which remained paralysed
in the wake of last week's Hurricane Gustav. US crude futures was down 9
cents at $105.43 a barrel after dipping to a five-month low of $104.70.


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