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Nifty above 11,300 mark; Cipla, Cadila stocks surge

HDFC twins, Infosys, IndusInd Bank, and Bajaj Finance among top contributor to the index gain, while gains were capped by Asian Paints, Kotak Mahindra Bank, and Tech Mahindra.
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Equity benchmark indices opened higher on Thursday ahead of July F&O expiry. HDFC twins, Infosys, IndusInd Bank, and Bajaj Finance among top contributor to the index gain, while gains were capped by Asian Paints, Kotak Mahindra Bank, and Tech Mahindra.

The Sensex is gaining 206 points to 38,054, while the Nifty jumped 56 points at 11,328-mark. Pharma, FMCG, auto and realty stocks gained while PSU Bank is trading in the negative zone.

Shares of Cipla jumped 4% after its subsidiary announced the acquisition of the prescription drug ZEMDRI (Plazomicin) from Achaogen Inc. (“Achaogen”) in Chapter 11, US Bankruptcy Code auction of Achaogen’s assets.

Shares of Cox & Kings hit 5% lower circuit after the company defaulted on payment of commercial papers worth Rs174cr which was due on July 24.

The Indian rupee opened flat at 68.98 per dollar on Thursday.

Meanwhile, oil ticked higher in early morning trade after falling in the previous session as more signs of slowing global growth added to demand concerns, with Middle East tensions underpinning prices.

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