Sensex Ends Below 44000, Nifty At 12879; Tata Steel Top Gainer

After scaling fresh peak of above 44000 points briefly on the Sensex in early trade, benchmark indices pared gains later. Sensex closed higher by 314.73 or 0.72% at 43952.71 points, while Nifty ended higher by 0.74% or 94 points at 12874. Broader markets outperformed with gains of over 1 percent on Nifty Midcap 100 towards the close of the trading session. Today's rally is largely driven by metal and bank stocks with Nifty Metal and Nifty Bank gaining over 2%.

Sensex Ends Below 44000, Nifty At 12879; Tata Steel Top Gainer

On the Nifty top gainers in today's trade were Tata Steel, Tata Motors, HDFC Life, SBI, Adani Ports. In fact, Tata Steel and HDFC Life strike their respective fresh 52-week high today.

Top losers in trade have been BPCL, Hero Motocorp, NTPC, ONGC and HCL Technologies.

IIFL Finance shares hit 20% upper circuit on fund raising news. The company garnered a total of Rs. 100 crore via issuance of non-convertible debentures on a private placement basis.

Tata Steel shares rallied close to 8 percent to hit their fresh 52-week high as the company's India business showed remarkable resilience during September ended quarter. Also, its per tonne profitability came in higher than most rivals in the industry.

RIL scrip which started the day strong ended with losses of 0.62% to close at Rs. 1994 shares apiece on the BSE.

Meanwhile Asian stocks ended the day higher on Moderna vaccine news, while European markets are trading in the red, with German DAX, French CAC and FTSE all down in trade by up to 0.5 percent. US stock futures however are trading mixed with Nasdaq in the green and Dow and S&P futures down.

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