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Market recovers after a choppy start; Yes Bank dips 8%

Market recovers after a choppy start; Yes Bank dips 8%

Market recovers after a choppy start; Yes Bank dips 8%
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By Ajay Vaishnav  Nov 15, 2018 1:22:32 PM IST (Published)

The Indian market recovered on Thursday after a choppy early session. IT, bank and auto shares witnessed buying, however, weakness in metal, pharma and select bank stocks along with index heavyweight Reliance Industries kept gains in check.

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The 30-share benchmark Sensex jumped nearly 152 points to trade at 35,294 at 11.56 am, while the Nifty traded above the 10,600 mark, at 10,620, rising over 44 points.
Broader markets showed weakness with the Nifty MidCap trading mildly higher by 0.18 percent. The BSE MidCap edged up by 0.20 percent.
The Bank Nifty gained a percent led by HDFC Bank, Kotak Mahindra Bank, Axis Bank, ICICI Bank, but weakness in Yes Bank shares weighed on the banking index.
BSE Consumer Durables rose 1.40 percent, leading the 36 advancing sectors with IT and auto indexes among top gainers. BSE Telecom declined by 0.6 percent among the seven declining sectors. BSE Basic Metal, Nifty Media and BSE Oil & Gas were other major weak sectors.
Shares of Adani Ports, Titan, Tata Motors, Hero MotoCorp, Tech Mahindra, Infosys and Axis Bank were among top percentage gainers on both indexes, rising by up to 3 percent, while Yes Bank, Grasim, Indiabulls Housing, UltraTech Cement, Sun Pharma, M&M, Reliance Industries and Tata Steel were major losers, falling by up to 8 percent.
The rupee traded at 72.16 against the US dollar at 12.11 pm. The home currency opened at 72.06 against greenback, gaining from Wednesday's close at 72.30.
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