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Benchmark indices cut some of its morning gains with Nifty hovering around 11,300 mark.
At 11:42 hrs IST, the Sensex is up 228.68 points at 37,349.90, while Nifty is up 62.60 points at 11,297. About 1103 shares have advanced, 1187 shares declined, and 163 shares are unchanged.
HDFC Bank, Reliance Industries, HDFC, ITC and Kotak Mahindra Bank are the positive contributors to the Sensex.
Among the sectors, PSU banking are leading with 2 percent gains, followed by energy, auto, infra, metal and pharma. On the other side, IT space is down 0.5 percent as rupee is trading higher by 60 paise at around 71.80 per dollar.
Shares of Dilip Buildcon added more than 3 percent after company declared lowest bidder for metro rail project of Rs 228.96 crore.
The company has been declared lowest bidder (L-1) by the Madhya Pradesh, Metro Rail Co, Urban Administration and Development Department, Bhopal (MP) for a metro rail project in the state of Madhya Pradesh.
Cipla share price gained 1.6 percent after the pharma company received approval from the US health regulator for anti-nausea drug.
Cipla has received approval from US Food and Drug Administration for Palonosetron Hydrocholride injectable, which is available in strength of 0.25 mg/5ml.
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