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Markets rally. Nifty crosses 5500. Midcaps participate

Markets have moved up with smart gains showing up on the indices. Individual stocks are beaming up with good surges seen on the counters. All the sectors have seen indices in the green. Midcap stocks have seen phenomenal rises.

The Nifty has quickly surpassed the 5500 mark. It has been a very good run up to the 5500 mark in a short duration of time. Expectations from the budget, good earnings numbers and lower inflationary figures have fuelled in the rally.

At 12:13 PM, the Nifty is at 5503, up by 88 pts or 1.6%.

Tata Motors, continues to remain the top gainer on the index. The stock has shot up by over 7% in today’s trade, following the result announcement for the previous quarter. This has made the other auto stocks also to trade with strong positive bias. Maruti is up by 3%. M&M has also moved up by 4%.

Many other stocks have seen good gains. Unitech is beaming with 6% surge, while L&T is up by 4.4%. Suzlon energy is up by 4.8%. Sterlite industries, from the metal space, has also shot up by 4%.

Index heavy weight RIL, is however trading in the red with 1% cuts.



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