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Sensex rebounds, Nifty reclaims 11,000 level; HUL, Bharti Airtel decline, Federal Bank surges

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MidCaps on both indexes rose by nearly a percent, recouping from Monday's sharp losses.

Sensex rebounds, Nifty reclaims 11,000 level; HUL, Bharti Airtel decline, Federal Bank surges
Indian markets rebounded in late afternoon trade buoyed by positive earnings results and rally in bank stocks. The Sensex surged by over 200 points to 36,531.61, rising 0.57 percent, while the Nifty reclaimed 11,000 mark, rising by 72.60 points, or 0.66 percent to 11,009.45 at 2.45 pm.
Nifty PSU Bank has risen by 3.23 percent, with gains also seen in Metal, which has added 2.02 percent.
(Market update as of 3pm)
Markets advanced higher in the afternoon session
The BSE Sensex added 90.48 points, or 0.25 percent, to 36,414.25, while the NSE Nifty 50 rose 48.10 points, or 0.44 percent, to 10,984.95.
Midcaps on both indexes are trading nearly 1.5 percent higher. Shares of HPCL, BPCL lead the gainers, followed by Tata Steel, Sun Pharma, Hindalco, Tata Steel, Vedanta, M&M.
Hindustan Unilever, Bharti Airtel, IndusInd Bank, NTPC, ITC, Eicher Motors, Dr Reddy's Labs top among losers.
(Market update as of 1.40 pm)
Here's how the markets performed around noon
The market was trading marginally higher with the Sensex going up by 50 points to 36,373 and the Nifty remaining above the 10,950 mark, at 10,965.90.
MidCaps on both indexes rose by nearly a percent, recouping from Monday's sharp losses. HPCL, Cipla, Sun Pharma, ICICI Bank, Tata Steel, Wipro, Tata Motors were among the top gainers, while Hindustan Unilever, Bharti Airtel, IndusInd Bank, NTPC, Eicher Motors were among the losers on both indexes.
Hindustan Unilever fell as much as 2.9 percent to Rs 1,701 in its biggest intra-day percent fall since May 2. The FMCG major had posted 19 percent rise in June-quarter profit on Monday, but missed street estimates as cost of materials climbed 16 percent.
Barring Eicher Motors, auto stocks were mostly trading higher, recouping some of Monday's losses over CNBC-TV 18 report that the government had decided to alter rules pertaining to load carrying capacity of trucks and heavy commercial vehicles.
Most sectoral indices on the BSE traded in the green, except FMCG. BSE healthcare, consumer durables, oil and gas gained over a percent each.
On the NSE, PSU Bank and pharma were leading with 1.16 percent and 1.44 percent gains respectively. Nifty Energy rose 0.82 percent.
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