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Sensex, Nifty set fresh records; banks, refiners lead gains

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Sensex ends at new high of 34,592 Nifty at record 10,681

The 30-share Sensex, after a cautious start, gathered momentum and rallied to 34,558.88, before ending at 34,503.49, a rise of 70.42 points, or 0.20 per cent.

The BSE Midcap index was 0.61 per cent down at 18,056, while Sensex was 0.22 per cent down at 34,427 around 12.35 pm (IST).

A total of 109 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE. Most Asian stocks closed higher after strong lead from Wall Street.

"However, selling pressure emerged in afternoon trade after four Supreme Court judges reportedly said working of the apex Court was not in order".

The BSE Mid-cap and BSE Small-cap indices were up 0.26% and 0.75%, respectively.

Vinod Nair, Head of Research, Geojit Financial Services, said: "The market reversed from intra-day low amid concerns over administration of the apex court which had resulted in a sentimental sell-off".

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Noting that while bilateral trade has increased manifold over the years, Juster said that there is still plenty of room to grow. Talking about India's NSG bid, he said, "We are working with partners to secure India's Nuclear Suppliers Group membership ".

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. The firm has a 50-day moving average price of $172.47 and a 200-day moving average price of $155.89.

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The Indian Army holds the event in the honour of Lieutenant General KM Kariappa, the first Commander-in-Chief of the Indian Army. The soldiers are reported safe and are undergoing treatment at the Army Hospital Research and Referral in New Delhi.

Expectations of healthy domestic earnings aided sentiments.

On the currency front, the Indian rupee strengthened by three paise to close at 63.63 against the U.S. dollar from its previous close at 63.66.

Sector-wise, the upmove was driven by oil and gas (up 0.69 percent), banking (0.50 percent), capital goods (0.48 percent), metal (0.45 percent), auto (0.28 percent), teck (0.14 percent), infrastructure (0.14 percent) and IT (0.03 percent). On the other hand, realty index fell 1.46 per cent, FMCG 0.52 per cent, power 0.47 per cent and healthcare 0.34 per cent.

ICICI Bank Ltd rose 2.7 percent, while Reliance Industries Ltd closed 1.2 percent higher.

Notable gainers were Adaniports 1.48 per cent, Wipro 1.37 per cent, Coal India 1.37 per cent and ONGC 0.41 per cent.

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