Indices Scale Fresh Highs; Sensex Ends At 49792

After starting on a flattish note, Indian indices extended yesterday's gains and hit fresh high today, and topped levels of 14666 and 49874 on the Nifty and Sensex, respectively. At the close, there was seen surge by 394 points on the Sensex and 124 points . Gains are primarily led by IT pack, auto and PSU bank with buying seen in them.

Indices Scale Fresh Highs; Sensex Ends At 49792

Top gainers in trade have been stocks like Tata Motors, Adani Ports,Wipro, Maruti and Tech Mahindra, while losers have been Power Grid, Shree Cements, NTPC, Gail and SBI Life.

Tata Motors scrip which saw a comeback similar to Reliance Industries in the ongoing month denied rumours of its inking agreement with electric car maker Tesla.

Reliance Industries also was up for third day with its shares recording day's high price of Rs. 2055 apiece on the NSE, which means gain of close to 2 percent.

GAIL is set to open its buyback offer and the move is expected to generate a cash flow of Rs. 800 crore. The scrip was down by over 1%.

Also as the paints company IPO opened, there was seen traction in other paint stocks such as Shalimar Paints that gained up to 3% during the session.

Meanwhile, European indices were trading mixed with German DAX trending higher.

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