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Sensex, Nifty End Modestly Higher Ahead Of IIP Data

11 November 2017

Investors locked in gains amid lingering worries of a spurt in oil prices and its impact on inflation and fiscal deficit, brokers said.

Asian shares slipped on Friday on uncertainty about United States tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives' version in several key areas, including a delay in the timing of a corporate tax cut.

The NSE Nifty50 index was 2 points up at 10,311, while the 30-share Sensex was 20 points up at 33,271 around 10.50 am (IST) on Friday.

"The biggest area of concern right now is crude oil (prices)". The rupee opened at 65.07 a dollar and was trading at 65.08 against the dollar.

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Rival Cipla too faced selling pressure and slumped 7.18 per cent.

Other laggards included Tata Motors, SBI, Lupin, ICICI Bank, RIL, Hero MotoCorp, NTPC, Dr Reddy's, HDFC, ONGC, Adani Ports, Infosys, Kotak Bank, Wipro, Tata Steel and ITC, falling up to 2.35 per cent.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 576.27 crore yesterday, as per provisional data released by stock exchanges.

European markets were also trading in the positive zone.

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Globally, other Asian markets led by Japan's Nikkei hit 25-year highs, tracking record closing on the U.S. bourses amid strong corporate earnings.

Sector-wise, the S&P BSE metals index declined by 228.92 points, followed by oil and gas index by 212.62 points and consumer durables index by 174.54 points. Gains were led by banking, energy, pharma and metal stocks - up between 0.70 per cent and 0.95 per cent in morning deals.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.05 per cent having hit its highest since November 2007 on Tuesday.

A similar trend was witnessed in the broader markets as investors preferred to take away profits at record levels, pulling down the mid-cap index by 1.47 per cent and small-cap by 1.35 per cent. London's FTSE was down 0.04 per cent.

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Sensex, Nifty End Modestly Higher Ahead Of IIP Data