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Sensex up 155 points, headed for strong close

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Despite profit taking at higher levels in a few front line stocks, the Sensex and the Nifty50 look well on course to end on a bright note today. The Sensex hit a new 52-week high today and the Nifty50 scaled a fresh peak, with a positive lead from Wall Street and firm trend in Asian and European markets aiding sentiment.Encouraging data on industrial production and merchandise exports outweigh reports on wholesale price and retail inflation. The rupee’s sustained rise against the U.S. dollar is helping as well.The Sensex, which rose to 29,614.79, is now up 155.34 points or 0.53% at 29,553.45. The Nifty50 is up 54.55 points or 0.6% at 9139.35, slightly off a new all-time high of 9152.90.All the sectoral indices are up in positive territory. The Telecom index, which is up by about 0.1%, has gained the least, while the Metal index tops with a strong 2.77% rise.Power, capital goods, consumer durables and realty stocks are among the prominent gainers. Information technology and oil stocks are also mostly higher. FMCG, automobile and bank stocks are turning in a mixed performance.Adani Ports and Tata Steel are trading higher by 4.5% and 4.1%, respectively. Asian Paints (2.3%) and Bajaj Auto (2.2%) are also up sharply.Infosys, Larsen & Toubro, NTPC, HDFC, Tata Motors, GAIL India, Wipro and Power Grid Corporation are up 1% – 1.6%.

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