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Sensex Lose 50000 Level On Losses In Financial Pack; Metals Rally

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After regaining 50,000 levels on the Sensex in early trade, indices pared most gains dragged by losses in the financials and banking space.Broader markets however outperformed with gains of 0.5 percent on the Nifty Midcap 100 towards the closing of the trading session.

At the close, Sensex ended at 49746, up 84 points, while Nifty was up over 50 points at 14873 levels.

Sensex Lose 50000 Level On Losses In Financial Pack; Metals Rally
 

Among Nifty sectoral indices, metal gained over 4.6% in today's session led by stocks such as JSW Steel, Tata Steel, Hindustan Zinc, Hindalco and Jindal Steel. Nonetheless, there was weakness seen in Hindustan Copper stock. Following, metals had been the IT and realty stocks, the former seen scaling fresh highs ahead of the commencement of the Q4 earnings season.

RIL shares also shrugged off the penalty concern imposed on the Ambani Brothers for not complying with the SEBI guidelines on promoter shareholding.

Further on demand recovery or anticipation of higher demand going ahead, cement stocks also rallied, with Shree Cements and JK Cement hitting new highs.

Meanwhile, at the time of writing this story, European indices mostly traded in the green with maximum strength in the CAC of 0.4%.

GoodReturns.in

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