In the midday session, Indian equity benchmarks cut all
their losses to turn positive, despite negative cues from other Asian markets.
Traders got relief, as the commerce ministry, is working to release the new
five-year foreign trade policy (FTP) before September this year and Districts
as Export Hubs scheme would be part of that document, which aims at promoting
exports and job creation.

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Asian markets were trading mostly in the red with Jakarta
Composite falling 171.88 points or 2.53% to 6,622.45, Hang Seng slipped 129.25
points or 0.59% to 21,730.54, Taiwan Weighted lost 143.98 points or 1.00% to
14,199.10 and KOSPI fell 20.92 points or 0.91% to 2,284.50. On the flip side,
Nikkei 225 rose 164.08 points or 0.63% to 26,099.70, Straits Times gained 27.06
points or 0.87% to 3,122.65 and Shanghai Composite was up by 4.58 points or
0.14% to 3,392.22.

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The BSE Sensex is presently trading 53,016.13, up by 108.20
points or 0.20% after trading in a range of 52,674.81 and 53,067.49. On the
index, 17 equities advanced while 13 stocks declined.

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The broader indices were trading in green with the BSE Mid
cap index falling 0.26%, while Small cap index was up by 0.46%. On the sectoral
front, FMCG was up by 0.99%, Power up was by 0.67%, Bankex was up by 0.54%, Utilities
was up by 0.53% and Realty was up by 0.53%, while Metal down by 2.27%, Auto
down by 0.81%, Oil & Gas down by 0.62%, Energy down by 0.59% and Basic
Materials down by 0.47% were the top losing indices on BSE.

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The top gainers on the Sensex were Indusind Bank up by
3.22%, Power Grid up by 2.28%, ITC up by 2.09%, ICICI Bank up by 1.38% and HCL
Tech. up by 1.29%. On the flip side, Tata Steel down by 2.67%, Mahindra &
Mahindra down by 1.83%, TCS down by 1.54%, Tech Mahindra down by 0.75% and Dr.
Reddy’s Lab down by 0.73% were the top losers.

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The NSE Nifty is presently trading at 15,756.40, up by 4.35
points or 0.03% after trading in a range of 15,661.80 and 15797.45. On the
index, 21 stocks advanced while 29 stocks declined.

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The top gainers on Nifty were Indusind Bank up by 3.26%,
Power Grid up by 2.15%, ITC up by 1.99%, HCL Tech. up by 1.44% and ICICI Bank
up by 1.34%. On the flip side, JSW Steel down by 4.85%, ONGC down by 4.04%,
Tata Steel down by 2.77%, Hindalco down by 2.36% and Cipla down by 1.75% were
the top losers.