Indian equity benchmarks continued their rally in the late
morning session, with both the Sensex and Nifty trading higher, on the back of
positive cues from other Asian markets. Domestic sentiments were positive, amid
a private report stating that companies in India are expected to give a salary
hike of 10% in 2023 as they struggle with high attrition in the tight labour
market.

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The Sensex is trading at 60,116.60, up by 274.39 points or
0.46% after trading in a range of 59,857.80 and 60,219.79. On the index, 22
stocks advanced and 8 stocks declined.

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The broader indices were trading in green with the BSE Mid
cap index up by 0.62% and the Small cap index up by 0.57%. The top gaining
sectoral indices on the BSE were Telecom up by 1.41%, Utilities up by 1.11%,
Power up by 1.08%, TECK up by 0.71% and IT up by 0.71%, while there were no
losing sectoral indices on the BSE.

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The top gainers on the Sensex were Bajaj Finserv up by
5.58%, Bajaj Finance up by 4.26%, NTPC up by 2.43%, Bharti Airtel up by 1.56%
and Tech Mahindra up by 1.50%. On the flip side, Kotak Mahindra Bank down by
0.79%, Mahindra & Mahindra down by 0.76%, Maruti Suzuki down by 0.36%, HDFC
down by 0.24% and HDFC Bank down by 0.14% were the top losers.

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The Nifty is trading at 17,910.45, up by 85.20 points or
0.48% after trading in a range of 17,833.35 and 17,937.50. On the index, 37
stocks advanced and 13 stocks declined.

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The top gainers on Nifty were Bajaj Finserv up by 5.56%,
Bajaj Finance up by 4.31%, HDFC Life Insurance up by 2.53%, BPCL up by 2.37%
and NTPC up by 2.36%. On the flip side, Apollo Hospital Ent. down by 1.17%, SBI
Life Insurance down by 0.90%, Kotak Mahindra Bank down by 0.77%, Cipla down by
0.67% and Mahindra & Mahindra down by 0.64% were the top losers.

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Asian markets were trading mostly in green with Nikkei 225 surging
353.86 points or 1.23% to 29,222.77, Hang Seng increased 136.28 points or 0.69%
to 19,966.80, Straits Times advanced 11.39 points or 0.35% to 3,265.18 and
Shanghai Composite gained 11.45 points or 0.35% to 3,289.33. On the flip side,
Taiwan Weighted dropped 1.77 points or 0.01% to 15,418.80 and KOSPI fell 16.00
points or 0.63% to 2,517.52.