Markets End higher; Nifty Hits New 2016 Peak
Markets ended the day higher as Asian markets continued to stage a strong recovery and European stocks bounced back for the third day in a row.
The Sensex ended the day with gains of 145 points while the Nifty rallied 40.60 points in trade.
Asian markets also staged a remarkable recovery with the Hong Kong's Hang Sang, the Singapore Strait Times and the Korean Kospi among the gainers.
The big gainers from the Sensex was heavyweight ITC, Dr Reddy's Labs and Larsen and Toubro. Shares in Mahanagar Gas made a stellar debut on the bourses rallying as much as 25 per cent.
Shares in Equitas Holdings soared after the company said that it has received final approval for small finance bank licence by RBI.
Heavyweight ITC saw its shares rally after the company's shares went ex bonus today. ITDC on the other hand lost ground after the Govt said it was considering divesting 12.03 per cent stake in ITDC.
Banking stocks saw some smart gains in trade with PSU banking stocks once again leading from the front. Union Bank, Punjab National Bank and Bank of India were among the gainers in trade.
Meanwhile, the rupee staged a solid rally against the US dollar and was last trading at 67.50 to the US dollar. Check and convert currency rates here
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