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Nifty above 11,900-mark; Yes Bank, Dr Reddy's Lab in focus

Among sectoral front, buying seen in the pharma, IT, media and FMCG stocks on the NSE index.
Equity benchmark indices opened flat tracking weak global cues on Friday. However, the market is currently trading higher, the rally is led by HDFC Bank, ITC, Infosys and HDFC Ltd.

The Sensex is up 129 points at 40,258, while the Nifty50 is also up 31 points at 11,909. About 1,008 shares have advanced, 508 shares declined, and 576. On the sectoral front, buying is seen in the pharma, IT, media and FMCG stocks.

Zee Entertainment, Bharti Infratel, and IndusInd Bank are among major gainers on the Indices, while losers include IOC, Airtel, and Yes Bank.

On the economy front, official data showed on Thursday that the output of core infrastructure industries fell by 5.2% in September, as against an expansion of 4.3% in the corresponding period a year ago. Read more

Further, India's fiscal deficit reached nearly 93% of the budget estimate at Rs6.52 trillion at the end of September in the current financial year, as per the government data.

Yes, Bank and Dr. Reddy's Laboratories are due to release their earnings today. Both stocks are trading lower on the NSE.

Further, Asian stocks were trading lower on fresh concerns over US-China trade prospects and ahead of US economic data. The US dollar eased against major rivals.

Gold prices were little changed on Friday as investors evaluated whether the Federal Reserve would continue to cut rates, but the metal was set for a second weekly gain as the uncertainty surrounding a U.S.-China trade deal boosted safe-haven appeal.

Meanwhile, the Indian rupee opened lower at 70.98/$ on Friday vs. Thursday's close 70.92. The yield on benchmark 10-year Treasury notes was a touch higher at 1.6927% compared with its US close of 1.691% on Thursday.

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