Market Live: Sensex off low point, Nifty hovers around 11,100; banks, autos decline.

Among sectors, banks, automobiles, and pharmaceuticals have taken a hit, while metals and IT names are the big gainers.

Market Update Benchmarks are off their low points, with the Sensex trading lower by around 150 points. The Nifty is hovering around 11,100-mark. 

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Among sectors, banks, automobiles, and pharmaceuticals have taken a hit, while metals and IT names are the big gainers. The Nifty Midcap index is down over a percent. 

At 10:24 hrs IST, the Sensex is down 142.55 points or 0.39% at 36699.05, while the Nifty is down 57.20 points or 0.51% at 11085.90. The market breadth is negative as 518 shares advanced, against a decline of 1,554 shares, while 111 shares were unchanged.

Market Update Equity benchmarks have extended their losses, with the Nifty trading below 11,100. The Sensex is down over 200 points.

At 09:54 hrs IST, the Sensex is down 201.43 points or 0.55% at 36640.17, while the Nifty is down 68.60 points or 0.62% at 11074.50. The market breadth is negative as 523 shares advanced, against a decline of 1,319 shares, while 96 shares were unchanged.

Shares of Infosys, Vedanta, and ONGC are the top gainers, while Maruti Suzuki, M&M, Bajaj Finance and Indiabulls Housing have lost the most.

Buzzing stock: Shares of  Usha Martin jumped about 8 percent at open after the company signed an agreement with Tata Steel.

Tata Steel on Saturday said it will acquire Usha Martin's steel unit, but did not specify the deal amount.

Shares of Usha Martin closed in on a 52-week high of Rs 36.40. But the stock cooled off soon after.

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Market opens Equity benchmarks have turned negative after witnessing a mildly higher start. The Nifty is hovering around 11,100, while the Sensex is down around 50 points lower.

The Sensex is down 50.16 points or 0.14% at 36791.44, while the Nifty is down 18.30 points or 0.16% at 11124.80. The market breadth is negative as 465 shares advanced, against a decline of 554 shares, while 70 shares were unchanged.

ONGC, Infosys, Cipla and Tech Mahindra are the top gainers, while Yes Bank, Maruti, and Bajaj Finance are the top losers.

Oil marketing companies are taking a hit on the back of higher crude oil prices. It is also having a resultant impact on aviation stocks.

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Market Live: Nifty hovers around 11,400, Sensex down 400 points; HDFC, RIL, SBI top losers

Global markets are reacting to escalating trade war tensions, while a weak rupee is also weighing on indices.

Market Update: The benchmark indices are trading lower with Nifty hovering around 11,400 marks and Sensex is down 410.48 points at 37,680.16.

About 966 shares have advanced, 1328 shares declined, and 157 shares are unchanged.

HDFC Bank, Reliance Industries, HDFC, Infosys and ITC are the negative contributors to the Sensex.

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 Bank Nifty declines over 1%: The Bank Nifty is taking it on the chin on this Monday morning, falling over a percent. The sharp fall in rupee is weighing on the lender stocks. The index gave up 27,000-mark and is down over 300 points.

Among stocks, Bank of Baroda, State Bank of India, IndusInd Bank, ICICI Bank, and Axis Bank, among others are trading weak. Here is a look at the charts on how the sector has performed so far.

Rupee Update: Forex dealers have said that banks are likely to have placed fresh dollar bets as government steps have failed to lift the rupee, CNBC-TV18 reported, quoting news agency Cogencis.

Selling is intensifying on the market in the first half 20 minutes of trade.

At 09:33 hrs IST, the Sensex is down 351.78 points or 0.92% at 37738.86, while the Nifty is lower by 107.60 points or 0.93% at 11407.60. The market breadth is negative as 607 shares advanced, against a decline of 965 shares, while 102 shares are unchanged.

Wipro, Sun Pharma, and HCL Technologies are the top gainers, while Axis Bank, State Bank of India, Titan and Indiabulls Housing have lost the most.

Global markets are reacting to escalating trade war tensions, while a weak rupee is also weighing on indices.

Market Update: The benchmark indices are trading lower with Nifty hovering around 11,400 marks and Sensex is down 410.48 points at 37,680.16.

About 966 shares have advanced, 1328 shares declined, and 157 shares are unchanged.

HDFC Bank, Reliance Industries, HDFC, Infosys and ITC are the negative contributors to the Sensex.

Bank Nifty declines over 1%: The Bank Nifty is taking it on the chin on this Monday morning, falling over a percent. The sharp fall in rupee is weighing on the lender stocks. The index gave up 27,000-mark and is down over 300 points.

Among stocks, Bank of Baroda, State Bank of India, IndusInd Bank, ICICI Bank, and Axis Bank, among others are trading weak. Here is a look at the charts on how the sector has performed so far.

Rupee Update: Forex dealers have said that banks are likely to have placed fresh dollar bets as government steps have failed to lift the rupee, CNBC-TV18 reported, quoting news agency Cogencis.

Selling is intensifying on the market in the first half 20 minutes of trade.

At 09:33 hrs IST, the Sensex is down 351.78 points or 0.92% at 37738.86, while the Nifty is lower by 107.60 points or 0.93% at 11407.60. The market breadth is negative as 607 shares advanced, against a decline of 965 shares, while 102 shares are unchanged.

Wipro, Sun Pharma, and HCL Technologies are the top gainers, while Axis Bank, State Bank of India, Titan and Indiabulls Housing have lost the most.

IT stocks rally: Shares of information technology stocks are trading in the green as a weaker rupee is making investors bet big on this sector. Mindtree, Tata Elxsi, Wipro, Infosys, and TCS, among others, are soaring amid a weak rupee. The shares are higher by 1-2 percent.

RUPEE FALLS FURTHER: The Indian rupee has extended its losses from its opening levels. The currency fell to 72.67 per US dollar mark in the morning trade as investors may not have been impressed by the government measures announced over the weekend. 

On Friday, the government announced a five-point strategy to arrest the rupee’s slide, after a late evening meeting that the prime minister took with Jaitley and Reserve Bank of India (RBI) Governor Urjit Patel, among others.

The measures include removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4 percent of GDP in April-June and check the rupee’s fall

Market opens: It’s a gap-down opening on the market on this Monday morning, with the Nifty shedding 90 points in the opening tick. The Sensex is lower by over 200 points.

Weakness in Asian markets along with a further selloff in the rupee, which fell 1 percent, are weighing on the indices.

The Sensex is down 248.84 points or 0.65% at 37841.80, while the Nifty is down 90.20 points or 0.78% at 11425.00. The market breadth is negative as 318 shares advanced, against a decline of 342 shares, while 93 shares were unchanged.

Yes Bank, Tata Motors, Indiabulls Housing and Titan are the top losers, while Wipro, TCS, and HCL Technologies have lost the most. 

Rupee opens The Indian rupee slipped in the early trade on Monday. It opened lower by 67 paise at 72.52 per dollar versus 71.85 Friday.

The government on Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4 percent of GDP in April-June, and check the rupee’s fall against the dollar.

Navneet Damani of Motilal Oswal Financial Services said, "The recent high is likely to pose short-term resistance to the pair and consolidation within support at Rs 70.80-71.30 and resistance at Rs 72.50-72.90 zone could be expected for the next 1-2 weeks."
 Shares of information technology stocks are trading in the green as a weaker rupee is making investors bet big on this sector. Mindtree, Tata Elxsi, Wipro, Infosys, and TCS, among others, are soaring amid a weak rupee. The shares are higher by 1-2 percent.

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RUPEE FALLS FURTHER: The Indian rupee has extended its losses from its opening levels. The currency fell to 72.67 per US dollar mark in the morning trade as investors may not have been impressed by the government measures announced over the weekend. 

On Friday, the government announced a five-point strategy to arrest the rupee’s slide, after a late evening meeting that the prime minister took with Jaitley and Reserve Bank of India (RBI) Governor Urjit Patel, among others.

The measures include removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4 percent of GDP in April-June and check the rupee’s fall

Market opens: It’s a gap-down opening on the market on this Monday morning, with the Nifty shedding 90 points in the opening tick. The Sensex is lower by over 200 points.

Weakness in Asian markets along with a further selloff in the rupee, which fell 1 percent, are weighing on the indices.

The Sensex is down 248.84 points or 0.65% at 37841.80, while the Nifty is down 90.20 points or 0.78% at 11425.00. The market breadth is negative as 318 shares advanced, against a decline of 342 shares, while 93 shares were unchanged.

Yes Bank, Tata Motors, Indiabulls Housing and Titan are the top losers, while Wipro, TCS, and HCL Technologies have lost the most. 

Rupee opens The Indian rupee slipped in the early trade on Monday. It opened lower by 67 paise at 72.52 per dollar versus 71.85 Friday.

The government on Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for foreign portfolio investors and curbs on non-essential imports to contain the widening current account deficit (CAD), which has widened to 2.4 percent of GDP in April-June, and check the rupee’s fall against the dollar.

Navneet Damani of Motilal Oswal Financial Services said, "The recent high is likely to pose short-term resistance to the pair and consolidation within support at Rs 70.80-71.30 and resistance at Rs 72.50-72.90 zone could be expected for the next 1-2 weeks."

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Market Live: D-Street extends losses on weak rupee, Sensex down over 200 points; Nifty breaks 11,500

 Market Live: D-Street extends losses on weak rupee, Sensex down over 200 points; Nifty breaks 11,500

Tepid global market movements along with a weakness in the Indian currency are likely to have weighed on the market.

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Market Update: A sharp selloff in the Indian rupee has dragged equity benchmarks on this Monday morning. The Sensex is down over 200 points, while the Nifty is testing 11,500-mark as well. The Indian currency has seen a steep fall of 59 paise to 72.34 per US dollar. Apart from that, weakness in automobiles, banks, and energy names are weighing on indices.

Midcaps, too, are trading in the red, down 0.25 percent on the Nifty Midcap index. Shares of Axis Bank jumped 5 percent after a successor to Shikha Sharma was announced, while Tata Motors fell 2 percent after its total JLR sales took a hit.

At 10:00 hrs IST, the Sensex is down 235.99 points or 0.61% at 38153.83, while the Nifty is down 77.20 points or 0.67% at 11511.90. The market breadth is narrow as 949 shares advanced, against a decline of 915 shares, while 97 shares were unchanged.

Tata Motors falls 2%: Shares of Tata Motors fell 2 percent on Monday morning as investors reacted to a fall in its Jaguar Land Rover (JLR) sales for August.

The stock touched an intraday high of Rs 276.30 and an intraday low of Rs 272.00.

JLR reported a fall of 4.9 percent (year-on-year) in its August sales at 36,629 units. The company’s retail sales were up 7.7 percent at 11,802 units on a YoY basis. 

Retail sales were up in the UK (64.9%), overseas markets (20.2%) and North America (2.5%), with Europe slightly below last year (3.1%), waiting for last WLTP certifications.

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“The China market remains unsettled following tariff changes and trade tensions (down 38.1%), although the reduction in duty from 25% to 15% is expected to be beneficial over the full year,” the company wrote in an exchange filing. 

Market opens: It’s a red start to the truncated week, with the Sensex shedding over 100 points, while the Nifty fell below 11,600.

Tepid global market movements along with a weakness in the Indian currency are likely to have weight on the market. The Indian currency opened at another record low of 72.18 per US dollar, continuing its bearish move in the past few sessions. 

The Sensex is down 116.02 points or 0.30% at 38273.80, while the Nifty is lower by 25.90 points or 0.22% at 11563.20. The market breadth is narrow as 460 shares advanced, against a decline of 440 shares, while 65 shares were unchanged.

Shares of Axis Bank and Infosys are the top gainers, while Sun Pharma, Kotak Mahindra Bank, and Indiabulls Housing have lost the most. Axis Bank’s shares are higher after it announced a successor to Shikha Sharma. Sun Pharma, meanwhile, is down on reports of fresh inspection by US FDA at its Mohali unit. 

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Market Live: Nifty trades below 11,500, Sensex around 38K; Zee Entertainment top loser

All major sectors are trading in the green, with maximum surge seen among pharmaceuticals, PSU banks and energy names, among others. The Nifty Midcap index is higher around half a percent.

Buzzing: Shares of Bharti Infratel touched the 52-week low of Rs 266, down nearly 2 percent as its consolidated revenue to reduce by Rs 780 crore per annum from the merger of Vodafone-Idea.

On completion of Vodafone-Idea merger Bharti Infratel and Indus Towers, where the company holds 42% equity, have received exit notices, which would result in the exit of 27,447 co-locations for the company on a consolidated basis.

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Buzzing: Shares of Persistent Systems added 5.2 percent as the company acquired Herald Health, a startup created to transform the data overload swamping healthcare professionals into clear and actionable insights.

The enterprise value payable for the acquisition of 100 percent shares of Herald is USD 5.2 million, subject to customary adjustments for working capital.

Market Update: Equity benchmarks have held on to their morning gains, with the Sensex rising over 100 points. The Nifty has maintained trading above 11,500-mark as well.

All major sectors are trading in the green, with maximum surge seen among pharmaceuticals, PSU banks, and energy names, among others. The Nifty Midcap index is higher around half a percent.

Among stocks, Power Grid, Tata Steel, and UltraTech Cement are the top gainers, while ONGC, Vedanta, Zee Entertainment and Hindalco have lost the most. 

The Sensex is up 133.57 points or 0.35% at 38151.88, and the Nifty up 36.20 points or 0.32% at 11513.20. The market breadth is positive as 1,393 shares advanced, against a decline of 729 shares, while 131 shares were unchanged.

Buzzing stock: Shares of Bharat Forge were higher by 3 percent on Thursday morning as investors cheered Credit Suisse’s maintaining outperform rating on the stock with a target of Rs 750.

The stock touched an intraday high of Rs 681.95 and an intraday low of Rs 669.70.

The global research firm highlighted how the macro situation is still favorable amid strong execution by the firm as well.

With the depreciation in rupee, it reckons that companies exporting to developed markets will benefit. It also observed that 60 percent of the revenues come from exports to the US and Europe.

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Market opens: After sluggish moves on Wednesday, the market has made a good start on Thursday morning. The Nifty hit 11,500 in the opening tick. The Sensex is higher by 100 points.

Major sectoral indices are trading in the green, with pharmaceuticals, metals, auto, and FMCG leading the charts, while there is the weakness in IT names. Among broader markets, the Nifty Midcap index is higher by almost a percent.

Among shares, Tata Motors, Coal India, and UltraTech Cement have gained the most, while NTPC, Adani Ports, Zee Entertainment and Bharti Infratel are the top losers. 

The Sensex is up 102.49 points or 0.27% at 38120.80, and the Nifty up 11.60 points or 0.10% at 11488.60. The market breadth is positive as 539 shares advanced, against a decline of 164 shares, while 44 shares were unchanged.

Rupee Opens: The Indian rupee opened higher by 13 paise at 71.62 per dollar on Thursday versus 71.75 Wednesday.

In yesterday's session, the rupee plunged to a record low of 71.96 per dollar before it finishes the day at 71.75, down 19 paise from the Tuesday's closing of 71.56.

The rupee fell for the sixth consecutive day and lost 165 paise in the last six trading sessions.

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Market Live: Sensex marginally off its high point, Nifty manages to hold 11,700; metals extend gains

IT, metals and pharma have extended their gains, while, autos are trading higher too. Energy stocks are seeing some weakness, with the Nifty energy index falling 0.2 percent.

Market Outlook: GDP growth at 8.2 percent for the June quarter is a strong sign but the number itself should not be taken as a strong indicator of growth, Neelkanth Mishra, MD and India economist and strategist, Credit Suisse said in an interview with CNBC-TV18.

If we analyze the June quarter results for companies, most of the results have come off from a weak or a low base highlights Mishra.

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If we remember the period in the run-up to the start of the Goods & Services Tax (GST) regime, there was significant inventory reduction in the economy which led to a fall in industrial growth last year.

Market Update: Shares are marginally off their high points, but the Nifty is managing to hold 11,700. The Sensex is trading above 38,700-mark as well.

The Bank Nifty is trading flat with a negative bias, while all other sectoral indices are trading in the green. IT, metals and pharma have extended their gains, while, autos are trading higher too. Energy stocks are seeing some weakness, with the Nifty energy index falling 0.2 percent. In the broader market, the Nifty Midcap is up around a percent. 

The Sensex is up 79.67 points or 0.21% at 38724.74, and the Nifty up 23.20 points or 0.20% at 11703.70. The market breadth is positive as 1,461 shares advanced, against a decline of 860 shares, while 108 shares are unchanged.

ICICI Bank falls 1.5%: Shares of ICICI Bank fell over 1.5 percent on Monday morning as investors turned wary of reports around Chanda Kochhar and family.

The stock touched an intraday high of Rs 345.00 and an intraday low of Rs 337.30.

The panel headed by Justice BN Srikrishna will examine property dealings undertaken by Chanda Kochhar and her family since she took over as CEO of ICICI Bank.

According to an Economic Times report, the board of ICICI Bank has requested the panel to determine whether the Kochhar family acquired the assets at concessional or rates lower than that prevailing in the market.

The panel will also probe whether sellers of these assets were granted special terms of loans or any other banking privileges with the bank. The report quoted Justice Srikrishna as confirming he is investigating allegations that were raised by a whistle-blower.

Market Update: Gains in IT, pharma and automobiles have helped the market offset losses in banks on Monday morning, with the Nifty continuing to hold 11,700. The Sensex is up over 100 points. Tech stocks are soaring on the back of a huge upmove on Wipro, which is currently up around 6 percent. The rally is spilling over to other IT stocks as well. 

Automobile stocks are also rising as investors are reacting to their monthly sales data for August. Buying counters are also buzzing in the midcaps space, with the Nifty Midcap index extending gains to around half a percent. Other big gainers include Bajaj Auto, and Lupin, while ICICI Bank, Maruti Suzuki and Bajaj Finance have lost the most.

The Sensex is up 127.93 points or 0.33% at 38773.00, while the Nifty is up 29.00 points or 0.25% at 11709.50. The market breadth is positive as 1,115 shares advanced, against a decline of 621 shares, while 100 shares are unchanged.

Market opens: It’s a good start on this Monday morning on D-Street as investors are betting on positive GDP data for the June quarter of this fiscal. The figure rose to 8.2 percent in Q1 of FY19.

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The Sensex is up 149.60 points or 0.39% at 38794.67, while the Nifty is up 36.50 points or 0.31% at 11717.00. The market breadth is positive as 398 shares advanced, against a decline of 112 shares, while 36 shares were unchanged.

Among sectors, banks are trading flat, while pharmaceuticals and IT are the lead gainers among other indices. Metals and infrastructure are also in the green. The Nifty auto is trading higher on the back of auto sales data for August. In the broader markets, the Nifty Midcap index is up over quarter of a percent.

The Indian economy grew 8.2 percent in April-June this year, the highest in two years, amid signs that households are buying more and companies, are adding capacities, shrugging off the disorderly effects of the twin shocks of demonetization and the goods and services tax (GST).

Shares of Wipro are higher by 6 percent after it signed its biggest deal.

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Market Live: Sensex up over 100 points, Nifty manages to stay above 11,700; metals surge

NTPC, Tata Motors, and Hindalco are the top gainers, while Yes Bank, Hero MotoCorp, and Titan continue to be the top losers.

Buzzing: Share price of HIL rose 6 percent as the company completed the acquisition of Germany based Parador Holdings GmbH.

The company through its wholly owned subsidiary, HIL International GmbH, Germany has completed the acquisition of Parador Holdings GmbH after receiving all necessary regulatory approvals including anti-trust approvals from the German Federal Republic.

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The all-cash consideration is being funded by HIL through a combination of Euro debt, INR debt, and internal accruals.

Market Update: Bulls are getting the momentum back in their favor. The Sensex is up over 100 points, while the Nifty is managing comfortably to stay above 11,700.

The Sensex is up 140.60 points or 0.36% at 38834.71, while the Nifty is up 40.10 points or 0.34% at 11732.10. The market breadth is positive as 1,059 shares advanced, against a decline of 1,056 shares, while 133 shares were unchanged.

NTPC, Tata Motors, and Hindalco are the top gainers, while Yes Bank, Hero MotoCorp, and Titan continue to be the top losers.

Market Update: After opening at fresh record highs, equities have erased some of their gains on the back of selling in banks. The Bank Nifty is down one-third of a percent. Weakness in midcaps, too, has weighed on the indices.

The Nifty is now trading just above 11,700-mark. Other sectoral gainers include pharmaceuticals, IT and energy names. Among stocks, shares of Jet Airways rose 3 percent, even as the airline reported a loss of Rs 1,300 crore for the June quarter.

Meanwhile, RIL has hit another milestone, touching Rs 1,300 apiece.

The Sensex is up 80.75 points or 0.21% at 38774.86, while the Nifty is up 24.00 points or 0.21% at 11716.00. The market breadth is narrow as 913 shares advanced, against a decline of 909 shares, while 108 shares were unchanged.

Market Opens: It’s another record high start for the market on Tuesday morning, with the Nifty hitting 11,700 for the first time, while the Sensex rose over 150 points to hit another record high in the opening trade.

The Sensex is up 182.75 points or 0.47% at 38876.86, while the Nifty is up 56.30 points or 0.48% at 11748.30. The market breadth is positive as 602 shares advanced, against a decline of 216 shares, while 47 shares were unchanged.

Among top gainers are Kotak Mahindra Bank, M&M, HDFC, Lupin and Page Industries, while Yes Bank, HPCL, Titan, and BPCL have lost the most.

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Rupee Opens: The Indian rupee opened higher by 14 paise at 70.02 per dollar on Tuesday versus previous close 70.16.

Rupee consolidated in abroad range for the tenth consecutive sessions despite weakness in the dollar against its major crosses. Yesterday, the dollar was weighed down after US and Mexico agreed to overhaul the NAFTA, putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact, said Motilal Oswal.

US president threatened he still could put tariffs on Canadian-made cars if Canada did not join its neighbors and warned he expected concessions on Canada’s dairy protections.

Today, USD-INR pair is expected to quote in the range of 69.80 and 70.20, it added.

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Market Live: Sensex extends gains to 350 points post record high opening, Nifty hits 11,650

Buying counters were buzzing the most among banks as well as metals, along with FMCG, infrastructure, IT and pharmaceuticals, among others. Midcaps, too, added to the gain, with the Nifty Midcap index surging almost a percent.

Market Update: It’s a strong trading day for the market on this Monday morning, with benchmarks clinching fresh record highs. The Sensex is up over 350 points, while the Nifty has hit 11,650 as well.

Buying counters were buzzing the most among banks as well as metals, along with FMCG, infrastructure, IT and pharmaceuticals, among others. Midcaps, too, added to the gain, with the Nifty Midcap index surging almost a percent. Strong global cues are also helping D-Street. 

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At 09:50 hrs IST, the Sensex is up 350.21 points or 0.92% at 38602.01, and the Nifty up 99.30 points or 0.86% at 11656.40. The market breadth is positive as 1,273 shares advanced, against a decline of 512 shares, while 116 shares were unchanged.

Among shares, Future Retail is up 3 percent on a report of Paytm, Google eyeing 7-10% stake in the firm, while RIL is up 1 percent on the buzz of Jio becoming second largest telco by revenue market share.

Market opens: It’s a good start to this Monday morning on D-Street as equities rode on positive global sentiment. The Sensex and Nifty have hit fresh record highs. The 50-share index is also trading above 11,600.

Banks and metals are leading the charts among sectoral indices, while pharmaceuticals, FMCG, and infrastructure are following them. There is strong growth in midcaps seen as well, with the Nifty Midcap gaining around a percent.

The Sensex is up 204.70 points or 0.54% at 38456.50, while the Nifty is up 62.60 points or 0.54% at 11619.70. The market breadth is positive as 447 shares advanced, against a decline of 120 shares, while 61 shares were unchanged.

State Bank of India, Yes Bank, and Hindalco are the top gainers, while Wipro, TCS, and Bharti Infratel have lost the most.

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Rupee opens: The Indian rupee gained in the opening trade on Monday. It has opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.

On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead of Fed chairman statement at the Jackson Hole Symposium. In the recent past, the rupee has been under pressure primarily on the back of global factors than domestic factors, said Motilal Oswal.

Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack. Data released by RBI showed FX reserves for the week ended August 24 remained more or less unchanged compared to previous week at USD 400.84 billion.

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