Indian equity benchmarks extended their rally to the afternoon, with power and capital goods stocks witnessing a strong buying over Dalal Street. Market sentiments remained positive, as the Reserve Bank of India (RBI) data showed that India’s foreign exchange (forex) reserves rose by $2.315 billion to $573.875 billion for the week ended July 29 on the back of robust capital inflows in the equities markets and strengthening of rupee from the record low.

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The Sensex is trading at 58,778.82, up by 396.99 points or 0.68% after trading in a range of 58,807.31 and 58,266.65. On the index, 19 stocks advanced and 11 stocks declined.

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The broader indices were trading in green with the BSE Midcap index up by 0.20%, while the Small cap index was up by 0.32%. The top gaining sectoral indices on the BSE were Power up by 1.49%, Capital Goods up by 1.48%, Metal up by 1.30%, Utilities up by 1.19%, and Industrials up by 0.82%, while IT down by 0.50%, TECK down by 0.40%, Telecom down by 0.29% and PSU down by 0.14% were the top losing indices on BSE.

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The top gainers on the Sensex were Mahindra & Mahindra up by 2.07%, HDFC Bank up by 2.03%, NTPC up by 1.99%, Axis Bank up by 1.69%, and Reliance Industries up by 1.62%. On the flip side, SBI down by 2.69%, Ultratech Cement down by 1.11%, Wipro down by 0.85%, Infosys down by 0.83%, and Asian Paints down by 0.82% were the top losers.

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The Nifty is trading at 17,512.95, up by 115.95 points or 0.67% after trading in a range of 17,513.70 and 17,359.75. On the index, 29 stocks advanced and 21 stocks declined.

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The top gainers on Nifty were Coal India up by 2.66%, Hindalco up by 2.36%, NTPC up by 2.19%, Mahindra & Mahindra up by 2.18%, and HDFC Bank up by 2.03%. On the flip side, BPCL down by 3.72%, SBI down by 2.80%, Britannia down by 1.70%, Hero MotoCorp down by 1.25%, and Ultratech Cement down by 1.04% were the top losers.

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Asian markets were trading mostly in green with Straits Times falling 18.77 points or 0.57% to 3,264.11, Jakarta Composite lost 21.27 points or 0.3% to 7,063.39, Taiwan Weighted dropped 15.63 points or 0.10% to 15,020.41 and Hang Seng decreased 232.05 points or 1.15% to 19,969.89. On the flip side, Nikkei 225 surged 75.22 points or 0.27% to 28,251.09, Shanghai Composite gained 1.12 points or 0.03% to 3,228.15 and KOSPI rose 2.68 points or 0.11% to 2,493.48.