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Nifty trades above 11,850 mark; NTPC, Tata Steel stocks lead

The market breadth was positive on the NSE with 1,154 shares advancing, 407 shares declining, and 524 remaining unchanged.
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Equity benchmark indices oscillated between gain and losses in the opening trade as selling pressure was seen in pharma and media stocks.

NTPC, Tata Steel, Grasim, and SBI are among top gainers, while Zee, Bharti Airtel, JSW Steel and Tech Mahindra were among top losers in today’s trade.

The Sensex was quoting at 39,530, up 96 points, while the Nifty was at 11,873, up 28 points. The market breadth was positive on the NSE with 1,154 shares advancing, 407 shares declining, and 524 remaining unchanged.

Shares of Manpasand Beverages hit 20% lower circuit on the NSE after top executives of the company including managing director have been arrested on allegations of GST fraud.

Shares of NTPC zoomed 4.5% after the company posted a 48.7% jump in its standalone net profit at Rs4,350cr for the March quarter compared to the year-ago period mainly on the back of lower expenses.

The Indian rupee opened higher as much as 0.19% to 69.39 against the greenback.

The Volatility gauge, India VIX is down 0.33% at 16.41.

The most active stocks on the NSE are SBI, Page Industries, Yes Bank, and ICICI Bank.

Meanwhile, oil prices rose as ongoing supply cuts led by OPEC kept markets relatively tight. Brent crude futures were at $69.10 per barrel, up 0.6% from their last close.

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