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The Nifty50 after a strong start above 11,000 levels remained
rangebound with a positive bias throughout the session on Wednesday and closed
at one-month high on follow-up buying. Select banking & financials, FMCG
and IT stocks led the market higher.Benchmark indices ended over half a per cent higher driven by
gains in RIL, ICICI Bank, HDFC, ITC and Bajaj Finance.Among sectoral indices, the Nifty Metal index ended 0.7 per cent higher with MOIL
and National Aluminium Company being the top gainers.
The Nifty Pharma index, too, settled 1.1 per cent higher
led by gains in Piramal Enterprises and Divi's Laboratories.In the broader market,
the S&P BSE MidCap index ended 72
points at 14,866, while the S&P BSE SmallCap index settled at 14,557, up 140 points.The share of housing finance company Dewan Housing Finance
Corporation (DHFL) zoomed 11 percent after an independent review report
released by the company reported that it has not promoted any of the 26 shell
companies, which were alleged to have siphoned off about Rs 35,000 crore of the
company by investigative news portal Cobrapost.Endurance Technologies shares
plunged 9% after offer for sale by the promoter opened for subscription.Wipro
shares rallied 2 percent after the stock adjusted for bonus issue which means
it started trading ex-bonus.
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