Sensex Ends 259 Points Higher Led By Gains In Financials, IT

After hitting a fresh new high in morning trade with Nifty inching closer to 14000 levels, benchmark indices closed with gains of 0.55% or 259 points on the Sensex at 47613, while Nifty ended higher by 0.43% or 59 points at 13932 led by gains in financials, bank and IT pack. Broader markets largely underperformed the headline indices.

Sensex Ends 259 Points Higher Led By Gains In Financials, IT

Pharma sector traded for the second consecutive day dragged by stocks such as Cadila Healthcare, Torrent Pharma and Biocon. Also, media was the worst performers with all constituents except one dragging the Nifty media index down.

Among top Nifty gainers are stocks like IndusInd Bank, Tech Mahindra, Axis Bank, HDFC and HCL Tech, while top losers include Coal India, NTPC, Nestle, Hindalco and Tata Motors.

ICICI Bank said it will acquire 9.09% stake in educational technology platform Myclassboard Educational Solutions Pvt Ltd for cash consideration of Rs4.5cr. The scrip of private sector lender gained over 1.5% to day's high of Rs. 528.5 apiece.

Shares of Rossari Biotech surged 11% to their highest price of Rs. 1019 since listing on the bourses on July 23, 2020.

Also, after the Cabinet Secretary led CGD gave an approval for BEML EoI, the scrip of BEML gained 3%.

Meanwhile at the time of writing this report, European indices traded firm with FTSE up by a huge 2.67% as a couple of factors such as a historic Brexit deal, hopes of an expanded US stimulus and Covid 19 vaccination drive in the Eurozone brightened prospectsof global growth in 2021.

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