Sensex Gains On Solid Global Cues; Oil, Metals Lend Support

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    Benchmark Indian indices ended the day higher for the second straight day as global cues continued to remain strong with the Chinese Shanghai surging more than 5 per cent. However, the Sensex gave up substantial gains in the last one hour of trade.

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    Sensex Gains For Second Straight Day ; Oil, Metals Lend Support
    Indices
    The Sensex closed the day higher by 161 points, while the Nifty rallied 53 points in trade. Most of the Asian markets followed the Shanghai Composite higher, though European markets like the German DAX and the French CAC were trading with losses.
     

    Leading the set of gainers from the Nifty were oil exploration companies like ONGC and Cairn India on a rally in oil prices. Metal stocks like Vedanta and Hindalco were among the top gainers after metal prices also saw a recovery.

    Banking stocks which saw a promising rally at the start of trading gave up gains towards the afternoon session and ended the day lower. Stocks like Yes Bank, Bank of Baroda, PNB and State Bank were the top losers from the space.

    Shares in Strides Arcolab ended higher after the Bombay High Court approved scheme of amalgamation involving merger of Shasun Pharma with the company.

    Select midcap stocks came in for heavy selling pressure with Amararaja Batteries, Godrej Industries and Emami among the major losers in trade from the mid cap space.

    Meanwhile, the rupee was weak once again in trade and was last seen trading at 66.10 to the dollar.

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    Read more about: sensex nifty hinadlco cairn india
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