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Sensex, Nifty Hit New Highs

Indian shares opened on a positive note Wednesday, with key benchmark indexes hitting record highs for the fourth straight session, despite mixed global cues.

Investors were reacting to mixed macroeconomic data and news suggesting that the government is considering the proposal of mining sector reforms for enhancing private investment.

The benchmark S&P BSE Sensex rose 254 points, or half a percent, to 49,771 in early trade, while the broader NSE Nifty index was up 81 points, or 0.6 percent, at 14,644.

IOC, Tata Motors, BPCL and ONGC rallied 3-4 percent, while HCL Technologies, TCS and Titan Company all were down about 1 percent.

Bharti Airtel surged nearly 5 percent after the telecom major announced it has initiated the process to revise its foreign investment limit.

Wipro and GTPL Hathaway were moving higher ahead of their earnings releases.

InterGlobe Aviation was moving lower despite news that IndiGo plans to start flights to seven new cities.

Tata Chemicals jumped 4 percent on reports that it is in advanced talks to acquire the industrial salt unit of Archean Group.

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