Stock market midday report: Sensex up 111 points, Nifty around 17,500

On the strength of bullish signs from other Asian markets, Indian equities indexes continued to pare gains in the late morning session but managed to remain in the green.

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On the global front, Asian markets were trading higher with Hang Seng increased 242.41 points or 1.01% to 24,238.13, Shanghai Composite gained 36.53 points or 1% to 3,702.88, KOSPI rose 8.50 points or 0.28% to 3,018.73, Straits Times advanced 7.32 points or 0.23% to 3,142.93, Jakarta Composite soared 21.74 points or 0.33% to 6,674.66, Taiwan Weighted strengthened 30.96 points or 0.17% to 17,857.22 and Nikkei 225 surged 244.24 points or 0.86% to 28,682.01.

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The BSE Sensex is presently trading at 58898.26, up 111.59 points or 0.19% from its previous close of 58885.87. On the index, there were 21 stocks that advanced and 9 stocks that declined.

The wider indexes were trading in the green, with the BSE Midcap index up 0.41% and the Small-cap index up 0.85%.

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The top rising sectoral indexes on the BSE were Metal up 1.28%, Power up 1.11%, Realty up 1.05%, Consumer Durables up 1.04 percent, and Bankex up 1.03%, while Energy was down 0.98%, FMCG was down 0.16%, and Oil & Gas was down 0.09%.

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The top gainers on the Sensex were Axis Bank up by 3.03%, Tech Mahindra up by 2.87%, Power Grid up by 1.92%, Maruti Suzuki up by 1.48%, and NTPC up by 1.19%. On the flip side, Bajaj Finance down by 2.23%, Reliance Industries down by 1.50%, Nestle down by 1.22%, Bajaj Finserv down by 0.99%, and Mahindra & Mahindra down by 0.88% were the top losers.

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The Nifty is presently trading at 17551.90, up 40.60 points or 0.23% after ranging between 17547.40 and 17639.50. On the index, there were 33 stocks that advanced and 17 stocks that declined.

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The top gainers on Nifty were Axis Bank up by 2.97%, Tech Mahindra up by 2.85%, Hindalco up by 2.70%, SBI Life Insurance up by 2.00%, and Power Grid up by 1.92%. On the flip side, Bajaj Finance down by 2.21%, Reliance Industries down by 1.50%, Nestle down by 1.14%, Bajaj Finserv down by 0.97%, and Mahindra & Mahindra down by 0.88% were the top losers.

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