In the midday session, Indian equity benchmarks cut some of
their gains but managed to remain in green, on the back of positive hints from other
Asian markets. International Monetary Fund (IMF) warned that avoiding recession
in the United States will be ‘increasingly challenging’ as it again cut its
2022 US growth forecast to 2.3% from 2.9% in late June as recent data showed
weakening consumer spending. The Fund also cut its 2023 real GDP growth
forecast to 1.0% from 1.7% on June 24, when it met with US officials for an
annual assessment of U.S. economic policies.

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Asian markets were trading mostly in green with Taiwan
Weighted adding 397.15 points or 2.85% to 14,347.77, Hang Seng increasing
130.25 points or 0.62% to 20,974.99, Nikkei 225 surging 94.56 points or 0.36%
to 26,431.22, KOSPI rising 14.14 points or 0.61% to 2,331.90 and Shanghai
Composite gaining 11.82 points or 0.36% to 3,293.29. On the flip side, Straits
Times trembled 21.29 points or 0.68% to 3,124.48 and Jakarta Composite lost
36.30 points or 0.54% to 6,681.99.

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The BSE Sensex is presently trading at 53,955.71, up by
69.10 points or 0.13% after trading in a range of 53,879.93 and 54,211.22. On
the index, 20 stocks advanced while 10 stocks declined.

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The broader indices were trading in green with the BSE Mid
cap index up by 0.53%, while Small cap index was up by 0.33%. On the sectoral
front, FMCG up by 1.13%, Capital Goods up by 0.74%, Consumer discretionary up
by 0.62%, Basic Materials up by 0.60% and Healthcare up by 0.59%, while
Utilities down by 1.14%, Power down by 1.13%, Oil & Gas down by 0.94%,
Energy down by 0.61% and Telecom down by 0.26% were the top losing indices on
BSE.

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The top gainers on the Sensex were Hindustan Unilever up by
2.35%, Asian Paints up by 1.88%, NTPC up by 1.29%, Kotak Mahindra Bank up by
1.21% and Larsen & Toubro up by 1.19%. On the flip side, Indusind Bank down
by 2.33%, HDFC Bank down by 1.38%, Bharti Airtel down by 1.15%, HDFC down by
0.75% and TCS down by 0.61% were the top losers.

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The NSE Nifty is now trading at 16,085.20, up by 26.90
points or 0.17% after trading in a range of 16,056.75 and 16,140.00. On the
index, 35 equities advanced while 15 equities declined.

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The top gainers on Nifty were Hindustan Unilever up by
2.49%, Asian Paints up by 1.84%, JSW Steel up by 1.38%, Larsen & Toubro up
by 1.28% and Tata Consumer Products up by 1.20%. On the flip side, Indusind
Bank down by 2.11%, HDFC Bank down by 1.36%, Bharti Airtel down by 1.23%, HDFC
down by 0.65% and Reliance Industries down by 0.58% were the top losers.