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    Sensex falls after opening over 200 points higher, Nifty near 11,200; IT stocks decline

    Sensex falls after opening over 200 points higher, Nifty near 11,200; IT stocks decline

    Sensex falls after opening over 200 points higher, Nifty near 11,200; IT stocks decline
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    By Ankit Gohel   IST (Published)

    The Indian equity benchmark indices opened higher on Wednesday led by gains in banking heavyweights and pharma stocks amid mixed global cues. However, indices gave up opening gains on profit booking at higher levels.
    The Sensex opened 0.65 percent or 247.74 points higher at 38,178.07, while the Nifty50 index opened at 11,231.20, up 68.95 points, or 0.62 percent.
    Broader markets gained with Nifty Smallcap100 and Nifty Midcap100 indices up 0.1 percent each.
    Barring Nifty Pharma and Nifty Private Bank, all other sectoral indices were trading in the red. Nifty Auto, Nifty IT and Nifty Metal lost the most.
    HUL, Bajaj Finance, BPCL, Hero MotoCorp and Zee Entertainment were the top index losers while Axis Bank, Sun Pharmaceuticals, Dr Reddy's Labs, Cipla and Bharti Infratel were the Nifty50 top gainers.
    Hindustan Unilever's (HUL) share price fell over 2 percent in early trade after the company declared its results for the quarter ended June 2020.
    Axis Bank gained over 6 percent in early trade as the brokerages raised target price after the company reported Q1FY21 earnings.
     
     
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