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Sensex 150 Points up in Opening Trade, Nifty Regains 9800 Level

30 September 2017

The benchmark Sensex today closed flat as buying by domestic institutional investors and retailers saved the day amid a strengthening rupee.

In early tradings, Sensex was trading at 31,102.08 lower by 57.73 points or 0.19%, while Nifty 50 was down 32.25 points or 0.33% trading at 9,703.50.

The Sensex has so far touched a high of 31,283.92 points and a low of 31,081.83 points during intra-day trade.

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Indian shares recovered on Thursday after declining for seven straight sessions, but overall sentiment was muted ahead of the expiry of derivative contracts later in the day and as the rupee continued to weaken against the dollar.

"Market started with a positive note supported by the government's unchanged stance on budgeted borrowing plan and expectation of additional capital spending by PSUs". "The slowdown in GST tax collection dented sentiment and investors expected that the GST-led disruption is likely to extend and will hurt earnings for the next few quarters", said Vinod Nair, head of research at Geojit Financial Services Ltd.

Participants are set for a long weekend as stock exchanges will remain closed on Monday, that is October 2, on account of Gandhi Jayanti.

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According to the provisional data, foreign portfolio investors (FPIs) sold '5,328.46 crore worth of equities on Thursday. The Nifty IT index, however, fell slightly, and was down 0.2%. GAIL, Eicher Motors and Aurobindo Pharma are among the gainers, whereas Hindustan Unilever, Dr. Reddy's Lab and Wipro are losing on the NSE.

Mumbai: The BSE Sensex on Thursday recovered by nearly 123 points as buying by domestic investors in banking, pharma, metal and realty stocks after recent falls helped the index break its seven-session falling streak.

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Sensex 150 Points up in Opening Trade, Nifty Regains 9800 Level