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nifty update

Nifty holds 10,700 mark; Metal, IT stocks lead

Benchmark equity indices were trading flat on Wednesday, tracking weak global cues after US President Donald Trump pulled out of Iran deal.

Benchmark equity indices were trading flat amidst weak global cues, with the Nifty managing to hold the 10,700 mark. The indices were dragged by banks and FMCG stocks as well as Reliance Industries and HDFC. However, buying in technology and metal stocks capped market losses.

At 11:05 AM, the BSE Sensex was down 42 points or 0.12% at 35,258, and the Nifty was down mere five points at 10,725.

Deccan Gold Mines stock rallied 19% on the BSE. The apex court has set aside a Karnataka High Court order, which granted the state permission to set aside Hutti gold mines in the northern part of the state for state-owned miner.

In the broader market, the BSE Midcap was marginally lower by 0.31%, while the BSE Smallcap was marginally up by 0.22%.

Out of 2,037 stocks traded on the NSE, 804 advanced, 802 declined and 431 remained unchanged today.

OMC stocks have taken a hit because of higher crude oil prices. BPCL, HPCL and IOC were trading 2.5%-3% lower.

Suven Life Sciences rose 1% as company secured product patents in Australia, Eurasia and Europe.

Tata Motors (+2.7%), Titan (+2.3%), HCL Tech (+1.5%), Infratel (+1.4%) and Hindalco (+1.3%) were the top gainers on the NSE.

BPCL (-3.4%), HPCL (-3.1%), IOC (-2.7%), UltraTech (-2%) and SBI (-1.1%) were the top losers on the NSE.

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