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Nifty above 10,450 mark; HDFC Bank, Sun Pharma stocks lead

Shrugging off weakness in other Asian markets, domestic benchmark share indices started today’s session on a positive note led by gains in index majors Housing Development and Finance Corp and ITC. Among sectors, Nifty Pharma, Nifty Metal, and Nifty Energy were the top performers.

At 9:51 AM, the BSE Sensex was trading at 33,793, up 16 points, while the Nifty50 was ruling at 10,457, up 14 points.

Among specific stocks, shares of Varun Beverages rose 7% as the company has entered into a binding agreement with PepsiCo India to acquire franchisee rights.

Shares of Reliance Communications gained 4% today after a report said that Mukesh Ambani’s Reliance Jio Infocomm leads the race to acquire the company’s assets.

SQS India shares fell 7% after the company’s open offer by German company, Assystem Services was at a sharp discount.

Shares of Repro India extended gains for the third consecutive session and rose 3% after a promoter bought stake in the company.

In broader markets, the BSE Midcap was up 0.43%, while BSE Smallcap gained 0.64%.

PSU Bank, Auto, Realty and Bank Nifty Index are the top losers on the NSE, while Nifty Media, Pharma and Metal Index were the top gainers.

Hindalco (+1.84%), Sun Pharma (+1.83%), Zee (+1.4%), Zee (+1.35%), Hero MotoCorp (+1.1%) and Cipla (+1.1%) were the top gainers on the Nifty50.

M&M (-2.9%), Infy (-1.2%), ICICI Bank (-0.85%), Airtel (-0.82%) and HUL (-0.80%) were the top losers in today’s trade.

India VIX dropped 1.18%.

Out of 1,977 stocks traded on the NSE, 1,134 advanced, 424 declined and 419 remained unchanged today.

A total of 79 stocks registered a fresh 52-week high in trade today, while three stocks touched a new 52-week low on the NSE.