After opening at fresh record highs, equities have erased some of their gains on the back of selling in banks. The Bank Nifty is down one-third of a percent. Weakness in midcaps, too, has weighed on the indices.
The Nifty is now trading just above 11,700-mark. Other sectoral gainers include pharmaceuticals, IT and energy names. Among stocks, shares of Jet Airways rose 3 percent, even as the airline reported a loss of Rs 1,300 crore for the June quarter.
Bulls are getting the momentum back in their favour. The Sensex is up over 100 points, while the Nifty is managing comfortably to stay above 11,700.
The Sensex is up 140.60 points or 0.36% at 38834.71, while the Nifty is up 40.10 points or 0.34% at 11732.10. The market breadth is positive as 1,059 shares advanced, against a decline of 1,056 shares, while 133 shares were unchanged.
NTPC, Tata Motors, and Hindalco are the top gainers, while Yes Bank, Hero MotoCorp, and Titan continue to be the top losers.
Missed call
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