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Market recovers, Nifty reclaims 10,900 mark; Jet Airways falls 8%

Market recovers, Nifty reclaims 10,900 mark; Jet Airways falls 8%

Market recovers, Nifty reclaims 10,900 mark; Jet Airways falls 8%
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By Ajay Vaishnav  Jan 16, 2019 12:51:08 PM IST (Published)

The Indian market edged up on Wednesday noon with the Nifty reclaiming 10,900. The market turned flat briefly in the trade as ITC and HDFC shares dragged indexes from their high points, offsetting gains from Reliance Industries, ICICI Bank and Infosys.

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The Sensex traded with gains of nearly 90 points, or 0.25 percent, at 36,408 at 12.05 pm. The Nifty was trading at 10,911.35, up by 24.55 points, or 0.23 percent.
Broader markets also climbed with the Nifty MidCap up by 0.30 percent and the BSE MidCap 0.22 percent.
Nifty PSU Bank was leading 35 advancing sectors, while Nifty FMCG was the weakest among 8 declining sectors. BSE Capital Goods and BSE Utilities and BSE Oil & Gas were other major sectoral gainers.
Among index gainers, Indiabulls Housing, Wipro, IndusInd Bank, UltraTech Cement, Grasim, NTPC, ICICI Bank and SBI gained between a percent and 3 percent.
Shares of UPL, JSW Steel, Bajaj Finance, Tech Mahindra, Adani Ports, Asian Paints, Hindustan Unilever, ITC and Kotak Mahindra Bank declined between half a percent and 2 percent.
Shares of Jet Airways slipped more than 8 percent after Etihad Group CEO Tony Douglas, in an email to State Bank of India (SBI), said his airline will invest in struggling Indian carrier Jet Airways only at Rs 150 per share. Read full report here
The rupee traded at 71.19 against the US dollar, after opening at 71.02.
Asian shares recovered mildly but traded weak with Japan's Nikkei down by 0.55 percent. Hong Kong's Hang Seng was up by 0.11 percent, while South Korea's Kospi gained 0.43 percent. The Shanghai Composite Index also edged up by 0.08 percent.
Also, catch all the action and updates in our Market Live blog.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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