The market has started off April series and financial year 2016-17 on a negative note, tracking weak Asian cues. The Sensex fell 79.75 points to 25262.11 and the Nifty declined 30.05 points to 7708.35 on profit booking.

Bharti Airtel, GAIL, Hindalco, Tata Steel, M&M, Aurobindo Pharma and BPCL were losers in early trade while BHEL, Wipro, Coal India, ITC, Cipla, Asian Paints, HCL Tech and Wipro gained.

Shares of MEP Infrastructure Developers rose 3 percent intraday as the company has declared as the successful bidder by National Highways Authority of India (NHAI).

The word in the media is HCL Technologies could be a likely buyer. It would be looking to acquire 37 percent in Geometric.

Mumbai-based engineering solutions company Geometric will hold a board meeting today evening to discuss its restructuring options.

Zydus Cadila has received final approval from the US Food and Drug Administration to market Carboplatin injection.

Bharat Wire Ropes saw strong debut on Friday, opening 5 percent higher at Rs 47.25 on National Stock Exchange but could not sustain gains for long.

The stock fell marginally below issue price of Rs 45, trading at Rs 44.90.

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