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Sensex, Nifty come off higher levels; RIL holds near 9-year high

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With a few front line stocks paring some gains on profit taking, the key indices Sensex and the Nifty50 are off the day’s high this afternoon. Still, with some blue chips, including Reliance Industries trading firm on fairly strong buying, they remain well placed in positive territory.The Sensex is up by about 143 points or 0.5% at 28,975.40, nearly 100 points off the day’s high of 29,070.20. The Nifty50 of the National Stock Exchange, which rose to 8967.80, is now at 8936.05, up 38.50 points or 0.43% from its previous close.Reliance Industries is up 3.3% at Rs 1300. The stock rose to Rs 1309.90 on BSE, a fresh 9-year high, with recent rating upgrades by top brokerages attracting investors to the counter.Power Grid Corporation is trading 1.75% up. NTPC is gaining 1.6%, Tata Motors is up 1.3%, Bajaj Auto, Hero Motocorp, State Bank of India, Bharti Airtel and Asian Paints are up by around 1%, Larsen & Toubro and Maruti Suzuki are gaining 0.75% each, and ITC is up 06%.BHEL, IndusInd Bank, Yes Bank, Kotak Bank, BPCL, Eicher Motors, Bosch and HCL Technologies are also trading notably higher.Meanwhile, Grasim Industries, Idea Cellular, Tata Consultancy Services, Aurobindo Pharma, Sun Pharmaceutical Industries, Hindustan Unilever, Zee Entertainment Enterprises, Tech Mahindra and Tata Steel are down 0.7% – 1.7%.Punjab National Bank is modestly higher after the bank said that it has raised Rs 1500 crore through capital bonds on private placement basis. Shree Cement is trading notably higher after the company said that it has won a coal linkage in Chhattisgarh with an allocated quantity of 60,000 tonne per annum at Rs 970 per tonne.

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