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Sensex recovers from opening low, Nifty at record high; HDFC, Reliance lead


ITC at new high: Nomura maintained its buy rating on ITC but raised its 12-month target price to Rs 356 from Rs 299 earlier which translates into an upside of 15 percent from current levels.

Market Update: Equity benchmarks recouped opening losses, with the Sensex reclaiming 31,000 level and Nifty 9,600.

Index heavyweights HDFC (up 2.3 percent), Reliance Industries (up 1.6 percent), HDFC Bank (up 1.06 percent) and ITC (up 0.3 percent) were top contributors to index gains.

The 30-share BSE Sensex was up 80.70 points at 31,108.91 and the 50-share NSE Nifty rose 22.55 points to 9,617.65.

About two shares advanced for every share falling on the BSE.

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