Market Closing: Indices End Higher Led By Metal, Pharma Stocks

The Indian benchmark indices ended Monday's rangebound session higher, boosted by gains in pharmaceuticals, and metal stocks.

The Sensex closed up 295.94 points, or 0.60 percent, at 49,502.41, while the Nifty rose 119.20 points, or 0.80 percent, to 14,942.40.

Rupee

The Indian rupee recovered early losses to end the day at 73.34 per dollar, a new high, amid buying in the domestic stock market for the fourth consecutive session.

Gainers/Losers

The top gainers on the Nifty were Coal India, UPL, Hindalco Industries, IOC, and Tata Motors. Shree Cements, UltraTech Cement, Britannia Industries, Infosys, and Hero MotoCorp were among the losers.

The stock of DCB Bank has risen after the company reported a 13 percent increase in Q4 net profit to Rs 78 crore.

On Monday, shares of sugar manufacturers and related companies continued their upward trend, gaining up to 75% in the last month on a positive outlook.

International markets

European stocks are rising, mirroring Asian stocks, on expectations that interest rates will stay low due to declining inflationary pressures, while the pound is strengthening after Boris Johnson's victory in local elections.

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