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Sensex, Nifty trade higher ahead of Economic Survey; Titan, HCL Tech stocks slip

Equity benchmark indices opened higher for the 4th consecutive session tracking positive global cues. Investors will keenly await the developments around the Budget even the Economic Survey is set to be tabled in the Parliament, ahead of the Union Budget to be presented tomorrow.

The Sensex gained 88 points to 39,928 levels, while the Nifty was up by 29 points to 11,946 levels. The market breadth was positive with 952 shares advancing, 559 shares declining, and 536 remaining unchanged on the NSE.

Among Nifty losers, Titan, JSW Steel, Bharti Infratel, Bajaj Auto and Hindalco dipped, while Indiabulls Housing Finance, UPL, Eicher Motors and Dr. Reddy's gained by up to 1.7%.

Nifty PSU Bank stocks surged after a media report said that the public sector banks will get recapitalization by the government in the upcoming Budget. Allahabad Bank rose 3%, followed by Bank of India, Central Bank and Union Bank gained 3% each.

Titan stock slipped 1% after global firm Morgan Stanley downgraded the shares.

Shares of Zee Entertainment are trading flat after media reports indicate that Comcast is looking to buy a stake in the firm.

The Volatility gauge, India VIX was down 1.67% at 13.46.

The most active stocks on the NSE are Indiabulls Housing, Yes Bank and Bank of Baroda.

The Indian rupee opened higher by 9 paise at 68.82 per dollar vs. previous close 68.91/$.

Meanwhile, oil prices inched lower after solid gains the day before, pressured by data showing a smaller-than-expected decline in US crude stockpiles.

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