In the midday session, Indian equity benchmarks remained positive with both Sensex and Nifty holding notable gains, on the back of positive cues from other Asian markets. Sentiments remained optimistic, after the principal economic advisor with the Department for Promotion of Industry and Internal Trade, Rupa Dutta, said that the government is working to reduce compliance issues with a focus on ease of doing business and has introduced the Insolvency and Bankruptcy Code (IBC) keeping that in mind.

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Asian markets were trading mostly in green with Jakarta Composite soaring 7.99 points or 0.12% to 6,654.40, Straits Times advancing 8.14 points or 0.26% to 3,111.80, Shanghai Composite gaining 17.07 points or 0.51% to 3,372.42, KOSPI rose 49.54 points or 2.16% to 2,341.55, Taiwan Weighted strengthened 339.28 points or 2.43% to 14,324.79 and Nikkei 225 surged 383.73 points or 1.47% to 26,491.38. On the flip side, Hang Seng decreased by 87.75 points or 0.41% to 21,498.91.

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The BSE Sensex is now trading at 54,143.11, up by 392.14 points or 0.73% after trading in a range of 53,980.74 and 54,249.74. On the index, there were 24 stocks that advanced and 6 that declined.

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The broader indices were trading in green with the BSE Mid cap index up by 0.92%, while the Small cap index was up by 1.21%. On the sectoral front, Consumer Durables was up by 2.86%, PSU up by 1.52%, Capital Goods up by 1.44%, Consumer discretionary up by 1.43% and Industrials was up by 1.34%, while there were no losing sectoral indices on the BSE.

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The top gainers on the Sensex were Titan Co up by 5.75%, Mahindra & Mahindra up by 2.77%, Indusind Bank up by 2.12%, NTPC up by 1.98%, and Larsen & Toubro up by 1.96%. On the flip side, Bajaj Finserv down by 1.12%, Reliance Industries down by 0.67%, Bajaj Finance down by 0.65%, Axis Bank down by 0.48%, and Ultratech Cement down by 0.29% were the top losers.

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The NSE Nifty is presently trading at 16,115.35, up by 125.55 points or 0.79% after trading in a range of 16,063.75 and 16,139.50. On the index, there were 42 stocks that advanced and 8 that declined.

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The top gainers on Nifty were Titan Co up by 5.76%, Mahindra & Mahindra up by 2.84%, UPL up by 2.64%, BPCL up by 2.40% and Indusind Bank up by 2.15%. On the flip side, Bajaj Finserv down by 1.01%, Reliance Industries down by 0.70%, Bajaj Finance down by 0.62%, Axis Bank down by 0.39% and HDFC Life Insurance down by 0.36% were the top losers.