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Sensex, Nifty sustain recovery fuelled by midcaps

Sensex, Nifty sustain recovery fuelled by midcaps

Sensex, Nifty sustain recovery fuelled by midcaps
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By Ajay Vaishnav  Aug 3, 2018 11:15:10 AM IST (Updated)

The BSE Sensex opened at 37,327 and further rose more than 200 points, while the Nifty crossed the 11,300 mark after opening at 11,297.

The BSE Sensex and the NSE Nifty made a strong comeback on Friday and advanced higher in early trade helped by sustained buying in midcaps, particularly metal, pharma, banks and financial stocks.  All sectoral indices too have joined the rally.

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The BSE Sensex was trading at 37,443.14, higher by 278 points, or 0.75 percent, while the Nifty was at 11,331, up by 87 points, or 0.77 percent.
Major BSE index gianers include Vedanta, Yes Bank, ICICI Bank, Axis Bank, Coal India, HDFC, SBI, Sun Pharma, ONGC, M&M, Kotak Bank, LT, Power Grid, TCS, Tata Steel, Tata Motors, Adani Ports, NTPC, Maruti, ITC, Reliance, rising by up to 3.57 percent. The laggards include Asian Paints, Wipro, IndusInd Bank, Hero MotoCorp, HDFC Bank, falling by up to 0.47 percent.
Indiabulls Housing Finance surged over 6 percent on the NSE, along with GAIL, Dr Reddy's Labs, while Tech Mahindra fell by 0.77 perent along with Infratel, HPCL, Grasim.
(Market update as of 11.05 am)
Indices recover after Thursday's losses fuelled by midcaps
The BSE Sensex and the NSE Nifty 50 opened on a strong note on Friday, tracking gains in global markets despite trade war concerns.
The BSE Sensex opened at 37,327 and further rose more than 200 points, while the Nifty crossed the 11,300 mark after opening at 11,297. The market breadth favours advances with the ratio broadly at 4:1.
Among early gainers, Indiabulls Housing Finance gained 5.9 percent as the non-banking financial company reported a consolidated net profit over 30 percent on year-on-year basis. Tata Consultancy Services gained by a percent, while Bharti Infratel was down 0.2 percent.
All sectoral indices were trading in the green with gains in pharma, metals, energy and auto counters. Nifty Midcap and the BSE MidCap, both started on a strong note.
The Indian rupee opened flat at 68.69 per dollar on Friday versus 68.70 yesterday.
In Asia, Japan's Nikkei and Hong Kong's Hang Seng were trading flat.
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