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Nifty above 11,600-mark; Auto stocks gain 1%


Domestic stock markets continue the up move for a third straight day after the government announced a cut in corporate taxes, coupled with gains in Asian peers. On the global front, investors will continue to track any development on the US-China trade talk front.

Among sectors, bank, infra, metal, and pharma are under pressure, while buying is seen in the auto, energy and IT space.

Maruti, Tata Motors, Infosys, Reliance, and Britannia are among the top gainers on the Nifty50 chart, while Zee, L&T, IOC and Yes Bank are the losers.

The S&P BSE Sensex index rose 102 points at 39,192, whereas the broader NSE Nifty benchmark at 11,625, up 25 points.

The Indian rupee opened higher by 15 paise at 70.78 per dollar on Tuesday against previous close 70.93.

The market breadth remained strong. On the NSE, 857 shares rose and 647 shares fell. A total of 570 shares were unchanged.

India VIX jumped 4.52% to 17.55.

In the commodities market, oil prices eased in early Asian trade as weak manufacturing data from Europe and Japan-focused market attention on a gloomy outlook for demand, though lingering uncertainty over Saudi supply disruption braked the drop.

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