INSUBCONTINENT EXCLUSIVE:
Domestic stock markets started Wednesday's session on a higher note tracking gains in Asian peers
The SP BSE Sensex rose as much as 136.61 points to 38,701.49 and the NSE Nifty moved to 11,620.85, up 44.9 points from the previous close
cent higher.Reliance Industries and Infosys were the top contributors to the rise in Sensex.The advances came a day after the central bank
set a cut-off at its second dollar/rupee swap auction at a much higher than expected premium - a sign that the system is flush with dollar
liquidity that banks are struggling to find buyers for.The RBI has been conducting the auctions in a bid to absorb the dollars in the system
and prevent a sharp rise in the currency while also providing rupee liquidity to the banks.The Nifty Energy index - comprising oil gas
stocks - rose as much as 1.17 per cent in intraday trade, led by ONGC, BPCL and IOCL.Equities in other Asian markets rose after upbeat
earnings helped the Nasdaq and SP 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near
six-month highs.MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent in early trade.The domestic stock markets had
closed lower for the past three consecutive sessions, with the Sensex shedding 710.76 pints - or 1.81 per cent - during this period.(With
inputs from Reuters)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on
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