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Sensex, Nifty open higher led by Nifty IT, Pharma

Nifty Pharma and IT led the gains over a depreciating rupee which fell 25p to 68.69/$ on foreign outflows.

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Benchmark indices opened higher, with the Sensex rising 201 points to 38,937, and the Nifty climbing 47 points to 11,599.

Nifty Pharma and IT led the gains over a depreciating rupee which fell 25p to 68.69/$ on foreign outflows.

Shares of Infosys soared over 4% after it revised its full-year constant currency revenue growth guidance upwards to 8.5-10%. The company's PAT declined by 6.8% qoq but up 5.1% YoY to Rs3,798cr against median consensus estimates of Rs3,703cr.

Sun Pharma also climbed over 3%, followed by Dr. Reddy's which was up 2% in opening trade.

On the flip side, Nifty Realty and PSU Banks were trading lower, dragged by Allahabad Bank which plunged over 10%.

Avenue Supermarts (DMart) is also trading higher by over 4% after it reported a 32% rise in PAT. The company reported revenue of Rs5,780.5cr, up 26.8% YoY and broadly in-line with estimates. EBITDA jumped by 41.0% YoY to Rs595.9cr, ~12% higher than the estimate. PAT for the company was ~10% higher than the estimate.

On Friday, India's CPI and IIP numbers came in. June CPI rose 3.18% YoY vs. 3.05% YoY in May, while May IIP was up 3.1% YoY.

The wholesale price index and trade data are due later today.


Infosys Ltd is currently trading at Rs758.60 up by Rs31.5 or 4.33% from its previous closing of Rs727.10 on the BSE.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs420 up by Rs12.3 or 3.02% from its previous closing of Rs407.70 on the BSE.

Allahabad Bank is currently trading at Rs42.35 down by Rs4.8 or 10.18% from its previous closing of Rs47.15 on the BSE.

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* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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