Friday, 31 August 2018

The Indian Rupee Breached A 71 Mark For The First Time On Friday

The Indian rupee breached a 71 mark for the first time on Friday. It has opened at a fresh record low of 70.95 per dollar versus previous close 70.74.

Yesterday the rupee ended at fresh life time low of 70.74 the dollar due to month-end demand for the US currency from importers and rising crude oil prices.

However, during the the rupee slipped to a record low of 70.90 to a dollar.

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The Market Has Opened Flat On The First Day Of The September

The market has opened flat on the first day of the September futures & options series.

The Sensex is down 32.76 points at 38657.34, while the Nifty is down 10 points at 11666.80. About 551 shares have advanced, 397 shares declined, and 50 shares are unchanged.

Grasim, TCS, Yes Bank, BPCL, Vedanta, Hindalco, Power Grid, Axis Bank are under pressure. Also, Nifty Bank was down 0.3 percent.


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Thursday, 30 August 2018

Equity Benchmarks Extended Their Winning Streak To Record Fresh Life-Time

Equity benchmarks extended their winning streak to record fresh life-time highs in August 2018.

This followed a global equity rally and expectation of domestic earnings pick up as fears of escalating trade wars played down. Sentiments remained strong despite the rupee hitting fresh lows.

The Nifty remains on a strong footing amid broad based participation and continuance of rising peak and trough formation.
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The market traded mildly lower amid volatility ahead of expiry of August

The market traded mildly lower amid volatility ahead of expiry of August derivative contracts later today. The weakness in rupee and rising crude oil prices weighed on market sentiment.

The 30-share BSE Sensex fell 44.34 points to 38,678.59 and the 50-share NSE Nifty declined 18.90 points to 11,673 but the market breadth was positive.

About three shares advanced for every two shares falling on the BSE.

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Wednesday, 29 August 2018

The Nifty Continues To Form Higher Highs And Higher Lows And Closed

The Nifty continues to form higher highs and higher lows and closed at a fresh high.

It is approaching the upper end of the rising channel placed at 11,830-11,850 levels. A sustained trade above 11,770 can extend the current upmove towards 11,850-11,925.

However, a trade below 11,650 can trigger profit booking and can drag the index lower to 11,550, which is also the lower end of the channel.

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After Days Of Positive Openings It Is A Flat Start For Equity Benchmarks

After days of positive openings, it is a flat start for equity benchmarks on this Wednesday morning, with the Nifty managing to hold 11,700-mark.

The Sensex is down 11.77 points or 0.03% at 38884.86, while the Nifty is lower by 10.70 points or 0.09% at 11727.80.

The market breadth is positive as 518 shares advanced, 310 shares declined, while 59 shares were unchanged. Banks are trading mixed, as the Bank Nifty is trading lower by one-fifth of a percent, while the PSU bank index is up over half a percent.

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Tuesday, 28 August 2018

The Indian Rupee Opened Higher by 14 Paise At 70.02 Per Dollar On Tuesday

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 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.

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It’s Another Record High Start For The Market On Tuesday Morning

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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Monday, 27 August 2018

The Indian Rupee Gained In The Opening Trade On Monday

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 Fed chairman statement at the Jackson Hole Symposium.

In the recent past, rupee has been under pressure primarily on back of global factors than domestic factors, said Motilal Oswal.

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It’s A Good Start To This Monday Morning On D-Street As Equities

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.

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Friday, 24 August 2018

The Indian Rupee Opened Lower By 8 Paise At 70.19 per Dollar On Thursday

The Indian rupee opened lower by 8 paise at 70.19 per dollar on Thursday versus previous close 70.11.

The dollar-rupee August contract on the NSE was at 70.14 in the previous session. August contract open interest increased 3.99% in the previous session, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Equity Benchmarks Have Marginally Extended Their Gains From The Opening

Equity benchmarks have marginally extended their gains from the opening minutes, with the Nifty trading around 11,600-mark.

The Sensex is up around 50 points. A sharp recovery in banks as well as metals has helped the market. FMCG and pharmaceuticals are trading in the red. Meanwhile, midcaps are trading in the green, up around quarter of a percent.

The Sensex is up 56.53 points or 0.15% at 38393.29, while the Nifty is up 13.50 points or 0.12% at 11596.30. The market breadth is narrow as 942 shares advanced, against a decline of 740 shares, while 94 shares are unchanged.

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Thursday, 23 August 2018

The Indian Rupee Opened Lower By 21 Paise At 70.02 Per Dollar On Thursday

The Indian rupee opened lower by 21 paise at 70.02 per dollar on Thursday versus previous close 69.81.

Rupee consolidated in a narrow range for the fourth successive session following a relief rally in most of the Asian currencies.

Rupee in the Asian pack has been one of the weakest currencies in this year and broad strength in the dollar is keeping gains capped for the currency, said Motilal Oswal.

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It’s Another Record High Start For The Market On This Thursday Morning

It’s another record high start for the market on this Thursday morning, with the Nifty hitting 11,600 for the first time, while the Sensex hit 38,400 in the opening minutes.

At 09:15 hrs IST, the Sensex is up 114.88 points or 0.30% at 38400.63, while the Nifty is up 30.10 points or 0.26% at 11601.00. The market breadth is positive as 471 shares advanced, against a decline of 160 shares, while 49 shares were unchanged.

Among sectoral gainers, pharmaceuticals lead the way, up almost a percent, while IT and FMCG are the other top gainers. Banks, on the other hand, are trading lower. The midcaps space is trading marginally higher.

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Tuesday, 21 August 2018

Equities Are Off To A Record High Start Following The Rally On Monday

Equities are off to a record high start, following the rally on Monday. There is buying seen among all sectors, with banks being one of the top gainers.

This is followed by IT, auto, pharamceuticals and metals, among others. The midcap index is also trading in the green.

The Sensex is up 77.31 points or 0.20% at 38356.06, while the Nifty is up 26.70 points or 0.23% at 11578.50

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After Opening At Fresh Record Highs Equities Have Given Up All Of Their Gains

After opening at fresh record highs, equities have given up all of their gains as banks lost steam on Tuesday morning.

The Bank Nifty is down almost one fifth of a percent, while pharma, metals and energy are trading in the red.

The Nifty Midcap index has also erased all of its gains, with the index trading over one-tenth of a percent lower.

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Monday, 20 August 2018

The Minimum Target Of Nifty On The Upside Is 11,800 Till Those Levels

The minimum target of Nifty on the upside is 11,800 till those levels are not achieved we don't see any major correction.

Nifty has been trending higher in an upward sloping parallel channel and it is trading in the fifth wave up.

So if the trend extends above 11,800 the index can touch the upper end of the channel as well that is 12,400-levels.

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The Indian Rupee Recovered Sharply From Its All-Time Low To Trade At 69.83

The Indian rupee recovered sharply from its all-time low to trade at 69.83 to the dollar, up 33 paise in morning on fresh selling of the greenback by exporters and banks ahead of US-China trade talks this week.

Besides, the dollar weakened against other currencies overseas as demand for the safe-currency receded on optimism over a reduction in US-China trade tensions, helping the domestic currency rebound, forex dealers said.

A higher opening in the equity market also supported the rupee's recovery, they said.

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Friday, 17 August 2018

Oil prices fell, ith US Crude Heading For A Seventh Weekly Decline Amid

Oil prices fell, with US crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products.

Brent crude oil futures were down 0.07 percent to $71.38 a barrel and US West Texas Intermediate (WTI) crude futures dropped 0.05 percent to $65.43 a barrel.

Brent is heading for a 2 percent decline this week, a third consecutive weekly drop. WTI is on track for a seventh week of losses, with a fall of more than 3 percent. Reuters Reported.

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Asian Markets Traded Mostly Higher Today Following Positive Lead

Asian markets traded mostly higher today, following positive lead from Wall Street and positive newsflow on US-China trade war front.

Japan's Nikkei jumped over 2 percent followed by Hong Kong's Hang Seng (up 0.5 percent), Australia's ASX 200 (0.2 percent) and South Korea's Kospi (0.37 percent). However, only China's Shanghai Composite traded half a percent lower.

US markets on Thursday ended higher with Dow Jones rising 1.6 percent (the biggest jump since April). S&P 500 gained 0.8 percent and Nasdaq Composite rose 0.42 percent.

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Thursday, 16 August 2018

On Thursday Rupee Opened At Record Low 70.19 Against The US Dollar

On Thursday, rupee opened at record low 70.19 against the US dollar and further slipped to 70.26. It hit 70 to the dollar for the first time on Tuesday, falling 15 paise intraday due to sharp depreciation in Turkish lira.

The rupee has fallen more than 9 percent year-to-date and around 2 percent in August.

Samiran Chakraborty of Citi told CNBC-TV18 that persistent disappointment on the current account deficit (CAD) & weak Emerging markets sentiment opens up the possibility of the dollar-INR heading towards the 72 mark as the 67 to 69 range shifted to a 69 to 72 range.

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The Nifty50 Index Is Continuously Trading Above Its Short-Term Upward Trend Line

The Nifty50 index is continuously trading above its short-term upward trend line (trend line drawn from June 28 to July 20 low) which indicates that the index has potential to move higher around 11,495 (life time high level) and 11,588 (upper Bollinger band) with the support around 11,376 (trend line) and 11,310 (20EMA) levels.

The Relative Strength Index (RSI) on the daily chart is 67.76, trading near overbought zone and the daily MACD trading above zero line but just crossed below its signal line, which indicates that the bias could remain sideways in upcoming trading sessions.

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Monday, 13 August 2018

The Indian Rupee Slipped To A Record Low As It Fell 66 Paise in The Early Trade On Monday

The Indian rupee slipped to a record low as it fell 66 paise in the early trade on Monday. It has opened at 69.47 per dollar on Monday versus 68.83 Friday.

The dollar-rupee August contract on the NSE was at 68.99 in the previous session. August contract open interest declined 1.86% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Equity Benchmarks Have Continued To Trade In The Red On Monday Morning



Equity benchmarks have continued to trade in the red on Monday morning. The Sensex is down over 250 points, while the Nifty is hovering around 11,350-mark.

At 10:29 hrs IST, the Sensex is down 261.15 points or 0.69% at 37608.08, and the Nifty down 75.00 points or 0.66% at 11354.50. The market breadth is negative as 721 shares advanced, against a decline of 1,365 shares, while 106 shares were unchanged.

Banks have continued to be weak along with auto, energy and metal names. Traditional defensives IT and pharma are trading in the green.

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Friday, 10 August 2018

The Indian Rupee Opened Lower By 15 Paise At 68.83 Per Dollar On Friday

The Indian rupee opened lower by 15 paise at 68.83 per dollar on Friday versus previous close 68.68.

The dollar-rupee August contract on the NSE was at 68.82 in the previous session. August contract open interest increased 4.31% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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It’s a Flat Start To The Market On This Friday Morning With The Nifty Trading

It’s a flat start to the market on this Friday morning, with the Nifty trading around 11,450 in the opening tick, while the Sensex has breached 38,000.

At 09:15 hrs IST, the Sensex was up 6.56 points or 0.02% at 38030.93, while the Nifty was down 6.30 points or 0.05% at 11464.40. The market breadth is positive as 394 shares advanced, against a decline of 176 shares, while 55 shares were unchanged.

Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength, while the midcap index is trading flat with a positive bias.

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Thursday, 9 August 2018

The Indian Rupee Gained In The Early Trade On Thursday



The Indian rupee gained in the early trade on Thursday. It has opened higher by 14 paise at 68.48 per dollar against previous close 68.62.

Rupee closed almost flat against the US dollar and traded with low volatility as most market participants have been following escalation of ongoing trade war between two major economies, said Motilal Oswal.

Yesterday, Chinese commerce ministry announced that it has decided to impose additional tariffs of 25% on USD 16 billion worth of US imports from fuel and steel products to autos and medical equipment.

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The Bulls Continues Their Upward Momentum As Equity Benchmarks

The bulls continues their upward momentum as equity benchmarks have start the day on a strong note, with Nifty, Sensex and Nifty Bank opened at record high. Sensex touched 38,000 for the first time, while Nifty is trading around 11,500.

The Sensex is up 117.47 points at 38,005.03, and the Nifty up 27.70 points at 11,477.70. About 671 shares have advanced, 348 shares declined, and 61 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in metal, energy and PSU banks.

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Wednesday, 8 August 2018

Equity Benchmarks Have Start The Day On A Positive Note With The Nifty Trading

Equity benchmarks have start the day on a positive note, with the Nifty trading around 11,400, while Sensex up by 20 points.

The Sensex is up 17.44 points at 37,683.24, and the Nifty up 7.20 points at 11,396.70. About 614 shares have advanced, 323 shares declined, and 60 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in metal names. Infra, energy and PSU bank space is also trading higher.

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Sharp Pickup In Buying In The Past One Hour In Banks Has Pushed Markets At The High Points

Sharp pickup in buying in the past one hour in banks has pushed markets at the high points of the day, with Nifty hitting a fresh record high.

At 11:02 hrs IST, the Sensex is up 153.52 points or 0.41% at 37819.32, and the Nifty up 44.10 points or 0.39% at 11433.60. The market breadth is positive as 1,287 shares advanced, against a decline of 886 shares, while 118 shares are unchanged.

ONGC, Asian Paints and Tata Steel are the top gainers, while Airtel, Infosys, and HPCL have lost the most.

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Tuesday, 7 August 2018

After Beginning The Day At Record Highs Shares Have Given Up All Of Their Gains

After beginning the day at record highs, shares have given up all of their gains and trading around the flat line.

The Nifty has given up 11,400-mark as well. A drag in financials, which were the biggest gainers on Monday, has hit the market on Tuesday morning.

The Sensex is up 9.05 points or 0.02% at 37700.94, while the Nifty is up 2.80 points or 0.02% at 11389.90. The market breadth is positive as 1,078 shares advanced, against a decline of 625 shares, while 94 shares are unchanged.

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Equity Benchmarks Have Begun The Day On A Record High Note With The Nifty Trading

Equity benchmarks have begun the day on a record high note, with the Nifty trading comfortably above 11,400. The Sensex has risen over 100 points.

The Sensex is up 115.50 points or 0.31% at 37807.39, while the Nifty is up 32.00 points or 0.28% at 11419.10. The market breadth is positive as 464 shares advanced, againt a decline of 119 shares, while 60 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in auto names. IT, metals and pharma space is also trading higher. In the broader markets, the Nifty Midcap index is up over one third of a percent.

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Monday, 6 August 2018

The Indian Rupee Opened Marginally Higher At 68.57 Per Dollar On Monday

The Indian rupee opened marginally higher at 68.57 per dollar on Monday versus 68.61 Friday.

The dollar-rupee August contract on the NSE was at 68.86 in the previous session. August contract open interest increased by almost 10% in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Equity Benchmarks Have Clocked Fresh Record Highs On Monday Morning

Equity benchmarks have clocked fresh record highs on Monday morning, with the Nifty hitting 11,400 for the first time, while the Sensex is also gained 200 points.

The Sensex is up 220.59 points at 37,776.75, and the Nifty up 57.30 points at 11418.10. About 818 shares have advanced, 177 shares declined, and 55 shares are unchanged.

All the sectoral indices are trading positive, while midcap and smallcap are also trading in line with major indices.

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Friday, 3 August 2018

After A Weak Two Sessions Equity Benchmarks On Friday Morning


After a weak two sessions, equity benchmarks on Friday morning have started the day on a good note.

At 09:15 hrs IST, the Sensex is up 182.90 points or 0.49% at 37348.06, while the Nifty is up 60.40 points or 0.54% at 11305.10. The market breadth is positive as 451 shares advanced, against a decline of 96 shares, while 41 shares are unchanged.

All sectoral indices are trading in the green, with gains in pharma, metals, energy and auto names, while midcaps have seen a strong start as well. The Nifty Midcap index is up over 0.6 percent.

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The Indian Rupee Opened Flat At 68.69 Per Dollar On Friday

The Indian rupee opened flat at 68.69 per dollar on Friday versus 68.70 yesterday.

Rupee fell sharply following broad strength in the US dollar against its major crosses after the Federal Reserve held rates unchanged but hinted towards gradual rate hike in the coming months.

Earlier this week, RBI in its policy statement considered raising rates by 25bps but retained its neutral stance as it aimed to contain inflation while not choking growth, said Motilal Oswal.

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Thursday, 2 August 2018

The Indian Rupee Opened Higher By 6 Paise At 68.37 Per Dollar On Thursday

The Indian rupee opened higher by 6 paise at 68.37 per dollar on Thursday versus previous close 68.43.

Rupee rose against the US dollar in the latter half of the session after the RBI considered raising rates by 25 bps but retained its neutral stance as it aimed to contain inflation while not choking growth. It’s the second straight meeting that RBI raised rates but retained its stance Neutral.

While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain broadly unchanged, said Motilal Oswal.

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The Benchmark Indices Have Opened Lower With Nifty slipped below 11,350

The benchmark indices have opened lower with Nifty slipped below 11,350 and Sensex down over 100 points. Nifty PSU banks down 1% led by SBI, Syndicate Bank, Allahabad Bank, Canara Bank, Bank of India, Andhra Bank and Bank of Baroda.

The Sensex is down 132.87 points at 37,388, and the Nifty down 36.20 points at 11,310. About 533 shares have advanced, 558 shares declined, and 57 shares are unchanged.

Nifty Bank was down 0.5 percent led by ICICI Bank, Axis Bank, Yes Bank, SBI. Other losers are Hindalco, Tata Steel, Bajaj Auto, Tata Motors, Maruti Suzuki.

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Wednesday, 1 August 2018

After Days Of Strong Starts The Market Has Taken A Slight Breather Today

After days of strong starts, the market has taken a slight breather today as equity benchmarks have kicked off August on a flat note.

Having said that, both Sensex and Nifty have managed to hit record highs in the opening minutes. The 50-share index is trading well above 11,350-mark.

Barring financial names, all sectoral indices are trading around the flat line, but energy, FMCG and metal names are in the green. The midcap index, too, is up over one-third of a percent.

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Equity Benchmarks Are Trading With Caution Ahead Of The Outcome Of RBI’s MPC Meeting Outcome

Equity benchmarks are trading with caution ahead of the outcome of RBI’s MPC meeting outcome. The Sensex is around the flat line, while the Nifty is above 11,370-mark.

Midcaps have further extended their gains to over half a percent, while energy, metals and pharma indices are trading strong. The Nifty auto index is down 0.30 percent following mixed trends on auto sales for July.

The Sensex is up 36.75 points or 0.10% at 37643.33, while the Nifty up 22.00 points or 0.19% at 11378.50. The market breadth is positive as 1,307 shares advanced, against a decline of 784 shares, while 124 shares are unchanged.

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