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Closing Bell: Markets extend gain for 4th session in a row; Sensex up 16 points, Nifty50 at 15850 – Auto and Metals surge most
The Indian markets continued its winning rally for the fourth straight session after a gap-down opening on Monday. Sensex closed flat with positive bias, up by over 16 points, while Nifty50 at 15850 levels, led by auto and metal stocks.
At the market close, the BSE Sensex grew by 16 points or 0.03 per cent to 53177, while Nifty50 closed over 18 points or 0.11 per cent higher to 15850-level. On the contrary, broader markets closed mixed, as mid-cap surged over by 0.3 per cent, while small-cap down 0.34 per cent at close.
As many as 32 stocks advanced and 17 declined, while one remained unchanged on the Nifty50 index at the close. Auto major M&M continues to hit a new high, to close over 2.5 per cent higher, followed by Tech Mahindra up nearly 2 per cent at the close.
Oil & Gas stocks such as ONGC and Oil India surge, tracking higher crude prices. While metal stocks rebound on China easing COVID rules, Hindalco gains 4 per cent,
On the contrary, Titan slumped most by nearly 3.5 per cent, followed by Asian Paints down over 3 per cent mainly on the higher crude oil price. Besides, the Bajaj twins – Bajaj Finance and Baja Finserv down between 1-2 per cent, along with Divis Lab was down nearly 2 per cent at the close.
Fertiliser stocks slip as rupee depreciates, Chambal Fert slips over 6 per cent. Paint stocks under pressure as crude rises, Asian Paints & Berger down 3 per cent each.
Strides, Petronet, Hind Copper, JSPL, NALCO, Dr Lal are top midcap gainers, while IEX, Astral, Berger Paints, RBL Bank, Can Fin Homes are top Midcap losers.
Sectorally, Nifty Metal and Auto along with Oil & Gas gained most by over between 1.5-2.5 per cent, leading the surge in benchmarks, while Banking and Financial Services tried to drag the market most.
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