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The Indian markets were trading over half a per cent higher on Monday, lifted mainly by pharma stocks.
Among the benchmark indices, the S&P BSE Sensex rose 300 points to 38,340 levels and the Nifty50 index reclaimed the 11,300 mark. Larsen & Tourbo and Mahindra & Mahindra gained 3 per cent each in early deals and were the top Sensex gainers. Meanwhile, Divi’s Laboratories surged 15 per cent after the announcement of its June quarter results.
Shares of defence equipment manufacturers and suppliers rallied up to 11 per cent on the BSE after the Ministry of Defence (MoD) announced on Sunday a phased, year-wise embargo on the import of 101 items of defence equipment. READ MORE
The Nifty sectoral indices were trading in the green, led by Nifty Pharma index, up 4 per cent.
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