Sensex Ends 447 Pts. Higher; Nifty Midcap 100 Jumps 14%

After opening on a firm note, indices pared their gains owing to drag on the banking and financial pack. At the close, Sensex ended higher by 447 pts. at 50297, while Nifty was up by as much as 157 points at 14919.

Sensex Ends 447 Pts. Higher; Nifty Midcap 100 Jumps 14%

Sectorally among the Nifty indices, auto and IT stocks outperformed with gains of 3 and 2 percent, respectively. Also, Nifty Midcap 100 gained by a massive 14% in trade today , led by gains in stocks including Adani Total Gas, Trent, Adani Power, PI Industries among others.

Paper stocks also surged intra-day after China producers hiked prices.

In the auto pack, Tata Motors clocked the best PV sales in 9 years and the scrip zoomed almost 5%.

The stock of Bharti Airtel after a sharp correction recorded day's high of Rs. 544 after acquiring 355.45 spectrum at a price of Rs. 18699 crore.

Kirloskar Ferrous declares interim dividend of Rs 2 per share at its meeting held today.

Also, there is a news that the Cayman Islands' biggest route of FPI investments into India has been put in the grey list and it will impact foreign inflows into India in a negative way.

Meanwhile, European stocks traded mixed at the time of writing this copy.