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Stock Market Updates: Sensex up 150 points, Nifty above 15,800; Tata Steel, Maruti top gainers

Tata Steel was the top gainer in the Sensex pack, advancing over 2 per cent, followed by Maruti Suzuki, Tech Mahindra, SBI, ICICI Bank and HDFC Bank

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Indian benchmark indices opened higher on positive global cues.  At 09:18 hours, the 30-share BSE index was trading 146 points or 0.23 per cent higher at 52,845.39, and the broader NSE Nifty was up 20.35 points or 0.13 per cent to 15,810.80.

Tata Steel was the top gainer in the Sensex pack, advancing over 2 per cent, followed by Maruti Suzuki, Tech Mahindra, SBI, ICICI Bank and HDFC Bank.

On the other hand, Reliance Industries and HUL were among the losers.

On Thursday, Sensex and Nifty closed higher led by gains in IT stocks ahead of Infosys Rs 9,200 crore share buyback.  Sensex closed 392.92 points or 0.75 per cent higher at 52,699 and Nifty surged 103.50 points or 0.66 per cent to 15,790.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "On the day of the monthly expiry of F&O contracts, the market closed just below the crucial resistance of 15800/52800.  However, the broader market remained strong and the Nifty/Sensex has formed a bullish continuation formation.  Bank Nifty also managed to close above the levels of 34800, which is positive for the broader market."

Foreign institutional investors (FIIs) emerged as net sellers as they sold shares worth Rs 2,890.94 crore on June 24, as per provisional data available on the NSE.