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Stock markets open higher tracking rally in L&T

Sensex and Nifty opened higher on Wednesday, led by strong gains in Larsen & Toubro after a solid Q1 result. L&T surged over 4% following a 29.8 per cent profit jump. Bharti Airtel and NTPC also gained. However, FII selling and negative US-India trade developments remain key concerns for the market`s short-term outlook.

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Representational Image. File Pic

Representational Image. File Pic

Benchmark equity indices Sensex and Nifty began the trade on an optimistic note on Wednesday amid heavy buying in infrastructure major Larsen & Toubro.
The 30-share BSE Sensex climbed 256.57 points to 81,594.52 in opening trade. The 50-share NSE Nifty went up by 69.3 points to 24,890.40.

From the Sensex firms, Larsen & Toubro jumped over 4 per cent after the infrastructure major reported a 29.8 per cent rise in consolidated net profit at Rs 3,617.19 crore during the June quarter, driven by strong overseas order growth.

Bharti Airtel, Asian Paints, NTPC and Bajaj Finserv were also among the gainers. However, Tata Motors, Hindustan Unilever, Eternal and Infosys were among the laggards.

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