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Markets open higher

Markets started the day in the green on the back of supportive cues from Asian markets.At 9:40am, the Sensex was up 98 points at 17,755 and the Nifty gained 22 points to start at 5,385.

Rupee opened marginally higher in line with gains in euro, local shares may show positive bias, dealers say. The pair is at 55.7150/73 versus 55.75/76 last close.

Among the sectoral indices, Auto, FMCG, Consumer Durables and IT were the top gainers opening up 0.5-1%.Meanwhile, Metal, Capital Goods and Bankex saw gains between 0.2-0.3%

The top gainers among the Sensex stocks were Tata Motors, Hindustan Unilever, Infosys, Maruti Suzuki,Tata Steel and ITC up 1-2%.

On the losing side were metal names like Sterlite, Hindalco along with L&T, Dr Reddy’s, HDFC Bank, Sun Pharma and Wipro down 0.2-1%.

Sterlite Industries and Steel Authority of India were trading lower by over 1% each in opening trades after the National Stock Exchange of India decided to exclude these companies from its benchmark index Nifty 50 with effect from September 28, 2012.



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