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Sensex zooms 319 points, Nifty trades at 16,220; IT tanks, Sugar stocks bounce back

Barring Nifty IT down by 1.1% all other sectoral indices were trading higher. Nifty Auto, Media, Oil & Gas, Realty, Metal, all rose in opening trade

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Sensex zooms 319 points, Nifty trades at 16,220; IT tanks, Sugar stocks bounce back