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It opened higher on the slightly better than expected GDP fig of 7.4 per cent. Intra day support is pegged at 7949 and 7921 points.

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The Nifty began the week with a weakness and what triggered the weakness in the indices were the unsatisfactory quarterly results by some of the heavyweights. The Pharma companies were under severe pressure on the concerns of their global business. Lupin reported a disappointing set of numbers. On the other hand FMCG saw margins clutched as they had to pass on the input cost benefits to the end consumers. The Banking stock did attract some buyers in the last couple of trading session on the back of improvement on the NPA front. At end it was a purely flop show by the benchmark indices as they witness back to back selling.

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