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Nifty slips below 10,150; Infosys, Tata Motors up 2%

Indian equity benchmarks moved higher led by gains in Infosys. However, the market gave up early gains as Reliance Industries, L&T and Sun Pharma came under selling pressure.

At 10:06 AM, BSE Sensex was up 44 points to 32,872 and the NSE Nifty50 Index up by 7 points to 10,129.

The BSE Mid-cap Index and BSE Small-cap Index are trading lower at 16,688 and 17,918 respectively.

Some buying was seen in IT and Tele Communications, while power, capital goods, utilities, FMCG, banking and consumer durables showed weakness on the BSE.

Infosys, Tata Motors, Indiabulls HF, ONGC and Bharti Airtel gained the most on Nifty50.

Adani Ports, HPCL, Wipro, Bajaj Finance and Sun Pharma were the top losers.

India VIX rises by 2.60% at 15.18 level.

Out of 1,989 stocks traded on the NSE, 623 advanced, 915 declined, and 451 remained unchanged today.

A total of 35 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened little changed against the US dollar ahead of the key Reserve Bank of India’s monetary policy review.

Among stocks, Biocon surged 10% as the USFDA approved Mylan and Biocon’s Ogivri, the first biosimilar for Trastuzumab, for the Treatment of HER2-Positive breast and gastric cancers.

Shares of Dr. Reddy’s Laboratories rose over 1% after the US FDA cleared the company’s pharmaceutical services facility at Miyapur near Hyderabad.

Shares of Infosys gained 3% after the company on Saturday appointed Salil S. Parekh as the chief executive officer and the managing director of the company, starting Jan 2.