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Markets bounce back. Banks and Metals help.

Markets have seen up-moves in the early trades, with Nifty trading close to the 5300 levels. Stocks from the metal, banking and capital goods sectors are holding up the indices high. Midcap stocks have also been trading higher.

At 10 AM, the Nifty is holding 0.6% higher at 5288, up by 31 pts.

The Bank Nifty index is 1% in the green. Private bank leader, ICICI Bank is trading firmly with 1% gains. HDFC Bank is up by 0.8%. Public sector major SBI is up by 1.2%. PNB is also up by 1.4%.

Sterlite, from the metal space, is up by over 2%. Tata steel is up by 1.4%. Hindalco is up by 1%. Jindal stel is up by 1.4%. JSW Steel has seen a surge of 1.6%.

Index heavy weight Reliance industries is up by 1.2%. ONGC is trading flat.

IT major Infy, is trading soft. HCL Tech is also mildly in the red.

IDFC has moved into the red with 0.7% cuts.

Auto stocks are also trading weak. Maruti is down by 0.8%. Hero Motors Corp, is down by 0.8%.

The CNX Midcap index is however in the green with 1% rise.

Unitech is up by over 3%. HDIL is up by 1.4%. Titan industries is up by 2.8%. IVRCL Infrastructures is up by 2.4%. Ore major Guj NRE Coke has slipped by 2.5%.



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