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Market edges higher, Sensex up nearly 100 points; DCB Bank, Suzlon Energy fall

Market edges higher, Sensex up nearly 100 points; DCB Bank, Suzlon Energy fall

Market edges higher, Sensex up nearly 100 points; DCB Bank, Suzlon Energy fall
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By Mousumi Paul  Jul 17, 2019 2:02:44 PM IST (Published)

Indian benchmark indices edged higher around noon on Wednesday led by gains in FMCG stocks.

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At 1.56 PM, the Sensex was trading 86.27 points higher at 39217.31 while the Nifty was trading at 11681.55, up 18.95 points. In the broader market, the Nifty Midcap 100 index slipped 0.15 percent while the Nifty Smallcap 100 index climbed 0.05 percent around 1.00 PM.
UPL, Kotak Mahindra Bank, Zee Entertainment, Tech Mahindra and HCL Technologies were the top gainers while Yes Bank, GAIL, ONGC, JSW Steel and Bajaj Auto were the top losers in the afternoon session.
Shares of DCB Bank fell 14 percent intraday on Wednesday after the first-quarter earnings showed an uptick in the bank's bad loan proportion, with the gross non-performing assets (NPAs) rising to 1.96 percent as against 1.86 percent in the corresponding period of 2018.
HDFC AMC shares surged nearly 7 percent intraday after the company reported robust June quarterly earnings, with net profit rising 42 percent YoY.
Suzlon Energy shares declined about 9 percent on Wednesday after the wind turbine maker defaulted on a payment of $ 172 million worth of principal amount related to outstanding bonds.
 
Meanwhile, Asian shares drifted off on Wednesday as anxious investors awaited more earnings reports from corporate America, while the dollar held firm in the wake of robust US retail data and a Brexit-driven dive in the pound.
 
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