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Afternoon session: Sensex holds 40,000, Nifty up 60 points; SBI, ITC top gainers

Afternoon session: Sensex holds 40,000, Nifty up 60 points; SBI, ITC top gainers

Afternoon session: Sensex holds 40,000, Nifty up 60 points; SBI, ITC top gainers
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By Mousumi Paul  Oct 30, 2019 1:07:09 PM IST (Published)

Indian markets continued to trade higher for the second consecutive session on Wednesday led by the gains in PSU banking stocks.

Indian markets continued to trade higher for the second consecutive session on Wednesday led by the gains in PSU banking stocks.

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At 12:35 pm, the 30-share BSE Sensex was trading 234.26 points or 0.59 percent higher at 40,066.10, while Nifty50 was up 61.60 points or 0.52 percent at 11,847.60.
Nifty PSU Bank index was the best-performing index, rallying over 3 percent, while Nifty Media declined 0.35 percent followed by Nifty Metal and Nifty Realty.
SBI, ITC, Bharti Airtel, Infosys and Bharti Infratel were the top gainers during afternoon session while Britannia, Coal India, Cipla, Dr Reddy's Laboratories, and Maruti Suzuki were the top laggards.
The Petronet LNG stock surged 6.7 percent intraday after the company's reported strong Q2 earnings. The company's Q2FY20 standalone net profit rose 96 percent at Rs 1,103.1 crore against Rs 560.3 crore in the quarter ended in June.
IndiGo's shares traded 5.6 percent higher on intraday basis after the airlines placed a firm order of 300 A320 neo family aircraft.  The latest order comprises A320neo, A321neo and A321XLR aircraft and takes the total number of A320neo family aircraft at IndiGo to 730.
Meanwhile, a rally in global shares stalled on Wednesday, with Asian shares slipping from three-month highs, as the prospect of a rate cut by the Federal Reserve was countered by worries a United States-China first-stage trade deal could be delayed.
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