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Coal India soars 7% on price revision; Stock markets start on positive note

Key Indian equity indices, Buoyed by positive global cues, opened at fresh high levels on Tuesday with healthy buying in metals, auto and healthcare stocks, news agency IANS reported.

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Key Indian equity indices, Buoyed by positive global cues, opened at fresh high levels on Tuesday with healthy buying in metals, auto and healthcare stocks, news agency IANS reported.

However, minutes into trading, the key indices pared some gains to trade on a flat note.

The wider Nifty50 of the National Stock Exchange (NSE) opened above the 10,600-level at a fresh high of 10,636.85 points from its Monday`s record close at 10,623.60 points.

Around 9.51 a.m., the Nifty50 traded higher by 1.50 points or 0.01% at 10,625.10 points.

On the BSE, the barometer 30-scrip Sensitive Index (Sensex), which opened at a high of 34,431 points, traded at 34,416.90 points (at 9.51 a.m.) -- up 41.10 points or 0.12 per cent -- from its previous session`s record close at 34,393.89.

The BSE market breadth was bullish with 1,020 advances and 996 declines.

Gainers on BSE involved - Coal India soaring by 6.34% trading at Rs 306.10 per piece, followed by Tata Motors at Rs 442.15 per piece up 1.97%, Tata Steel at Rs 776.80 per piece higher by 1.02%, Yes Bank at Rs 335.10 per piece up 0.51% and State Bank of India at Rs 307 per piece up 0.44%. 

On January 08, Coal India in a meeting approved the revision  non-coking coal prices effective from January 9. This revised prices will be applicable  to all subsidiaries of Coal India including NEC (North Eastern Coalfields). 

Losers on BSE were Wipro (Rs 309.15 per piece), Bajaj Auto (Rs 3259.15 per piece), Asian Paint (Rs 1178.55 per piece), IndusInd Bank (Rs 1712 per piece) and ICICI Bank (Rs 313.05 per piece) trading down in the range of 0.30% to 1%.

On Monday, the key equity indices, along with the broader market indices, closed at record highs on the back of healthy buying from foreign funds, along with optimism over the upcoming quarterly earnings result season and strong global cues. opened at fresh high levels on Tuesday with healthy buying in metals, auto and healthcare stocks.

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