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Sensex, Nifty trade higher; Reliance Industries, Indigo stocks gain

UltraTech, Indiabulls Housing, Titan and Vedanta are among the top gainers, while losers include Yes Bank, ONGC and IOC.
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Equity benchmark indices opened higher on Friday tracking positive global cues. Reliance Industries and Indigo were trading in the positive territory ahead of Q1 results scheduled to be reported today.

The Sensex rose 85 points to 38,973 and the Nifty50 was up 20 points to 11,617 levels.

UltraTech, Indiabulls Housing, Titan and Vedanta are among the top gainers, while losers include Yes Bank, ONGC and IOC. Media, financial services and auto are among top sectoral losers on the Nifty index.

Shares of Intellect Design Arena gained 1% after prominent institutional investor Amansa Holdings bought 1.45% stake in the company via bulk deals on the NSE and the BSE.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs1,404.86cr worth of funds on Thursday, provisional data from the NSE showed.

Meanwhile, equities in other Asian markets gained and the dollar sagged on the back of expectations of a US interest rate cut later this month.

Further, oil prices rose more than 1% on Friday after the US Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, again raising tensions in the Middle East.


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