Indian equity benchmarks continued to surge in the
afternoon session, despite negative cues from other Asian markets. Heavy buying
at capital goods and industrial counters helped key indices to remain higher.
However, some concerns remained among traders, amid a positive report stating
that the global economy is in the grips of a serious slowdown, with some major
economies at high risk of recession and only sparse meaningful cooling in
inflation over the next year.

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The Sensex is trading at 55,552.82, up by 284.33 points or
0.51% after trading in a range of 55,157.99 and 55,557.44. On the index, 21
stocks advanced and 9 stocks declined.

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The broader indices were trading in green with the BSE
Midcap index up by 0.26%, while the Small cap index was up by 0.22%. The top
gaining sectoral indices on the BSE were Capital Goods up by 2.07%, Industrials
up by 1.12%, Healthcare up by 0.94%, Basic Materials up by 0.74%, and PSU up by
0.73%, while Telecom down by 0.44%, Consumer Durables down by 0.17%, Auto down
by 0.16% and Power down by 0.13% were the top losing indices on BSE.

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The top gainers on the Sensex were Larsen & Toubro up
by 3.40%, Sun Pharma up by 2.44%, Indusind Bank up by 1.85%, Axis Bank up by
1.42%, and TCS up by 1.32%. On the flip side, Bajaj Finserv down by 1.09%,
Kotak Mahindra Bank down by 1.02%, Bharti Airtel down by 1.01%, Bajaj Finance
down by 0.47%, and Titan Co down by 0.14% were the top losers.

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The Nifty was trading at 16,565.50, up by 81.65 points or
0.50% after trading in a range of 16,438.75 and 16,568.75. On the index, 35
stocks advanced and 15 stocks declined.

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The top gainers on Nifty were Larsen & Toubro up by
3.32%, Grasim Industries up by 2.83%, Divi’s Lab up by 2.52%, Sun Pharma up by
2.25%, and Indusind Bank up by 1.84%. On the flip side, UPL down by 1.81%,
Bajaj Auto down by 1.68%, Kotak Mahindra Bank down by 1.25%, Bharti Airtel down
by 1.10%, and Bajaj Finserv down by 1.07% were the top losers.

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Asian markets were trading mostly in red with Shanghai
Composite declining 3.07 points or 0.09% to 3,274.37, Straits Times trembled
7.57 points or 0.24% to 3,184.55, KOSPI fell 11.21 points or 0.46% to 2,401.75
and Hang Seng decreased 315.42 points or 1.51% to 20,590.46. On the flip side,
Nikkei 225 surged 107.52 points or 0.39% to 27,762.73, Taiwan Weighted
strengthened 15.05 points or 0.1% to 14,821.83 and Jakarta Composite soared
5.75 points or 0.08% to 6,877.29.