Due to purchasing in the banking and auto sectors, Indian stock markets were higher in the midday session. Traders were relieved when India and the United States inked an Investment Incentive Agreement (IIA) in Tokyo. The agreement would put proposals worth $4 billion under consideration by the US International Development Finance Corporation (DFC) into action.

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Asian markets were trading mostly in red with Hang Seng decreasing 335.07 points or 1.64% to 20,134.99, Straits Times trembled 3.45 points or 0.11% to 3,210.20, Shanghai Composite declined 42.16 points or 1.34% to 3,104.70, Nikkei 225 slipped 253.38 points or 0.94% to 26,748.14, Taiwan Weighted dropped 192.78 points or 1.19% to 15,963.63 and KOSPI was down by 41.50 points or 1.57% to 2,605.88. On the other hand, Jakarta Composite was up by 74.19 points or 1.08% to 6,914.97.

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The Sensex is presently trading at 54,343.72, up 55.11 points or 0.10% after moving in a range of 54,021.27 to 54,463.13. On the index, 12 equities advanced while 18 stocks declined.

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The broader indices were trading in red with the BSE Midcap index losing 0.66%, while the Small cap index was down by 0.45%. The only gaining sectoral indices on the BSE were Bankex up by 0.49% and Auto was up by 0.01%, while Healthcare down by 1.00%, IT down by 0.96%, TECK down by 0.89%, Realty down by 0.78%, Capital Goods down by 0.76% were the losing indices on BSE.

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The top gainers on the Sensex were Dr Reddy’s Lab up by 1.90%, HDFC up by 1.80%, Kotak Mahindra Bank up by 1.28%, Power Grid up by 1.27% and Nestle was up by 1.17%. On the flip side, Hindustan Unilever was down by 2.49%, Tech Mahindra down by 2.17%, HCL Tech down by 1.84%, Bajaj Finserv down by 1.44% and Infosys was down by 1.40% were the top losers.

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The Nifty is presently trading at 16,221.15, up 6.45 points or 0.04% after moving in a range of 16,117.10 to 16,262.80. On the index, there were 16 stocks that advanced and 33 stocks that declined.

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The top gainers on Nifty were Dr Reddy’s Lab up by 1.88%, HDFC up by 1.86%, Kotak Mahindra Bank up by 1.51%, Power Grid Corp up by 1.29% and Nestle was up by 1.21%. On the flip side, Divi’s Lab was down by 5.31%, Grasim Industries down by 4.10%, ONGC down by 2.64%, Hindustan Unilever down by 2.22% and Tech Mahindra was down by 2.06% were the top losers.