Stock market midday report: Sensex up 300 points, Nifty around 16,800

In the late morning session, Indian equity benchmarks sustained their advances, with both the Sensex and the Nifty trading in green territory. Positive indications from other Asian markets aided major indices in maintaining their gains.

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On the global front, Asian markets were trading mostly in green, Straits Times added 0.96 points or 0.03% to 3,086.04, Hang Seng gained 42.37 points or 0.18% to 23,013.70, Taiwan Weighted rose 31.89 points or 0.18% to 17,821.16, KOSPI advanced 4.70 points or 0.16% to 2,979.73 and Jakarta Composite was up by 15.79 points or 0.24% to 6,570.10. On the other hand, Nikkei 225 fell 11.54 points or 0.04% to 28,506.05, and Shanghai Composite was down by 5.93 points or 0.16% to 3,619.20.

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The Sensex is now trading at 56625.06, up 306.05 points or 0.54% after ranging between 56471.03 and 56820.89. On the index, there were 23 stocks that advanced and 7 stocks that declined.

The broader indices were trading in the green, with the BSE Midcap index up 1.12% and the Small-cap index up 1.38%.

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The top gaining sectoral indices on the BSE were Realty up by 1.99%, Auto up by 1.48%, Industrials up by 1.46%, Metal up by 1.37%, and Basic Materials up by 1.30%, while there were no losing sectoral indices on the BSE.

The top gainers on the Sensex were Bajaj Finance up by 2.41%, Sun Pharma up by 1.75%, Bharti Airtel up by 1.70%, Tata Steel up by 1.62%, and Indusind Bank up by 1.45%. On the flip side, Power Grid down by 3.39%, Wipro down by 1.10%, Nestle down by 0.77%, HDFC down by 0.54%, and ITC down by 0.21% were the top losers.

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The Nifty is presently trading at 16867.55, up 96.70 points or 0.58% after ranging between 16819.50 and 16920.35. On the index, there were 38 stocks that advanced and 12 stocks that declined.

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The top gainers on Nifty were Tata Motors up by 2.76%, Eicher Motors up by 2.72%, Hindalco up by 2.64%, Bajaj Finance up by 2.44%, and UPL up by 2.18%. On the flip side, Power Grid down by 3.34%, Wipro down by 1.04%, Nestle down by 0.66%, SBI Life Insurance down by 0.57%, and Adani Ports & SEZ down by 0.52% were the top losers.