A recovery in midcaps along with a surge in IT space has boosted the market on Friday morning. It had begun on a flat note. The Sensex is currently higher by over 100 points, while the Nifty was seen inching towards 11,000.
The rupee touched a new low of 69.12 to the dollar, which has boosted IT stocks. The Nifty IT index is up over 1 percent at this point. Along with it, midcaps have recovered from the low points of the day.
The Nifty Midcap index is up around one-tenth of a percent. Metals are trading weak, led by losses in Vedanta. The stock is down 2 percent. Shares of Reliance Industries has hit a fresh record high. The scrip has gained 46 percent in the past on year.
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