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Nifty above 10,350 mark; Tech Mahindra, IndusInd among top gainers

Benchmark share indices shrugged off the lacklustre cues from Asian equities and opened higher led by gains in shares of automobile and realty companies.

Gains in index heavyweight Reliance Industries, ITC and Tata Motors also supported indices. However, the gains were capped as HDFC and HDFC Bank were among the laggards.

At 9:45 AM, BSE Sensex rose 95 points to 33,678 and the NSE Nifty50 Index rose 31 points to 10,380.

The BSE Mid-cap Index and BSE Small-cap Index gained over 0.35% at 16,836 and 17,944 respectively.

Tech Mahindra, IndusInd Bank, Bajaj Auto, Infosys and Indiabulls HF gained the most on Nifty50, while Hindalco, Zee, Tata Steel, Vedanta and Adani Ports were the top losers.

Meanwhile, the Indian rupee opened flat at 64.58 per dollar on Friday vs. previous close 64.58.

Among specific stocks, shares of Videocon Industries jumped 5% on reports that banks are likely to accept the company’s debt recast plan by the end of this month.

Shares of Reliance Industries rose nearly 1% as the company has completed its sale of upstream assets in Pennsylvania.

Some buying was seen in IT, auto, PSU Bank and FMCG sectors, while metal, media and realty sectors showed weakness on the NSE.

India VIX slipped by 1.78% at 13.62 level.

Out of 1,971 stocks traded on the NSE, 1,032 advanced, 482 declined, and 292 remained unchanged today.

A total of 51 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

Asian indices opened weak. The sharp drop in the Chinese Index and the Hang Seng did send ripple signals in most markets, as volatility spikes. The US markets reopen for a short session today and will see higher volatility in trade today.