In the midday session, bulls were holding a tight grip over
the Dalal Street, with both Sensex and Nifty trading on a strong note, following
positive cues from other Asian markets. Sentiments were positive, as the
government slashed the newly-introduced windfall tax on petrol, diesel,
aviation fuel, and crude oil following global oil price ease from a sharp
spike.

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All Asian markets were trading in green with Hang Seng
increasing 359.55 points or 1.74% to 21,020.61, Taiwan Weighted strengthening
92.17 points or 0.63% to 14,786.25, KOSPI rising 18.39 points or 0.78% to
2,389.36, Shanghai Composite gaining 21.82 points or 0.67% to 3,301.25, Straits
Times advancing 41.49 points or 1.33% to 3,159.28, Jakarta Composite soaring
120.94 points or 1.8% to 6,857.03 and Nikkei 225 surging 676.32 points or 2.51%
to 27,638.00.

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The BSE Sensex is now trading at 55,485.28, up by 717.66
points or 1.31% after trading in a range of 55,313.85 and 55,554.29. On the
index, there were 26 stocks that advanced and 4 stocks that declined.

The broader indices were trading in green with the BSE Mid
cap index up by 0.82%, while Small cap index was up by 0.99%.

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The top gaining sectoral indices on the BSE were IT up by
2.26%, TECK up by 1.80%, Metal up by 1.74%, Energy up by 1.43% and Consumer
Durables up by 1.23%, while there were no losing sectoral indices on the BSE.

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The top gainers on the Sensex were Tech Mahindra up by
2.60%, Reliance Industries up by 2.55%, TCS up by 2.44%, Titan Co up by 2.41%
and HCL Tech. up by 2.37%. On the flip side, Mahindra & Mahindra down by
0.73%, Sun Pharma down by 0.26%, Bharti Airtel down by 0.22% and Kotak Mahindra
Bank down by 0.01% were the top losers.

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The NSE Nifty is currently trading at 16,546.75, up by
206.20 points or 1.26% after trading in a range of 16,501.55 and 16,568.90. On
the sectoral front, there were 44 stocks that advanced and 6 stocks that declined.

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The top gainers on Nifty were ONGC up by 4.46%, Apollo
Hospital Ent. up by 2.77%, Reliance Industries up by 2.75%, Tech Mahindra up by
2.70% and HCL Tech. up by 2.42%. On the flip side, HDFC Life Insurance down by
1.91%, Mahindra & Mahindra down by 0.76%, Eicher Motors down by 0.72%, Sun
Pharma down by 0.37% and Bharti Airtel down by 0.16% were the top losers.