Stock market midday report: Sensex down 214 points, Nifty around 17,200

On the strength of strong signs from other Asian markets, Indian equity benchmarks managed to reduce some of their losses in the late morning sessions.

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On the global front, Asian markets were trading mostly in green with Hang Seng increased 48.99 points or 0.21% to 23,684.94, Jakarta Composite soared 38.59 points or 0.58% to 6,654.23, Taiwan Weighted strengthened 38.10 points or 0.22% to 17,637.47, Nikkei 225 surged 7.08 points or 0.02% to 28,439.72 and Shanghai Composite gained 2.66 points or 0.07% to 3,664.19. On the flip side, KOSPI fell 4.70 points or 0.16% to 2,983.25 and Straits Times trembled 11.40 points or 0.37% to 3,109.69.

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The BSE Sensex is now trading at 57902.79, down 214.30 points or 0.37% after ranging between 57671.61 and 58218.25. On the index, 11 equities advanced while 19 stocks declined.

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The broader indices were trading in a mixed with the BSE Mid size index fell 0.18%, while the Small-cap index rose 0.24%.

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The top gaining sectoral indices on the BSE were Auto up by 0.44%, Capital Goods up by 0.43%, Bankex up by 0.39%, Power up by 0.19%, and Industrials up by 0.16%, while IT down by 0.90%, TECK down by 0.89%, Realty down by 0.62%, FMCG down by 0.52% and Healthcare down by 0.52% were the top losing indices on BSE.

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The top gainers on the Sensex were Kotak Mahindra Bank up by 1.48%, Axis Bank up by 1.17%, Mahindra & Mahindra up by 1.04%, NTPC up by 1.03%, and Bajaj Auto up by 0.67%. On the flip side, Bajaj Finance is down by 2.23%, Bajaj Finserv is down by 1.58%, Infosys is down by 1.22%, TCS is down by 1.17%, and Sun Pharma is down by 1.09% were the top losers.

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The Nifty is presently trading at 17253.15, down 71.75 points or 0.41% from a high of 17351.20 and a low of 17192.20. On the index, there were 16 stocks that advanced and 34 stocks that declined.

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The top gainers on Nifty were Kotak Mahindra Bank up by 1.56%, Axis Bank up by 1.22%, NTPC up by 0.87%, Mahindra & Mahindra up by 0.83%, and Bajaj Auto up by 0.67%. On the flip side, Bajaj Finance was down by 2.28%, Divi’s Lab was down by 1.70%, Bajaj Finserv down by 1.67%, Adani Ports & SEZ down by 1.64%, and Britannia down by 1.33% were the top losers.

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