Sensex Ends Higher For Ninth Day; Metals, Autos Outperform
Indian equities staged a sharp recovery from the day's low to end near the highest point of the day, and lodging yet another record high.
The S&P BSE Sensex ended 0.64% higher at 48,176. This was the ninth straight day of gains for the index. The NSE Nifty 50 index too gained 0.8% to close above the mark of 14,100 at 14,132.
Among the sectoral indices, Metal stocks outperformed its peers by a long way, with the Metals index ending with gains of 5.1%. The index now trades at the highest since November 2018.
What also ended at a two-year high is the Auto index, which gained 1.6% in today's session.
The Nifty I.T. index extended its winning run, gaining 2.7% today to end at another record high.
Other indices like Nifty Pharma and the PSU Bank index ended with gains of 1% each. The Nifty Bank index underperformed in today's session, ending little changed.
Broader markets outperformed in today's session, with the Midcap index ending 1.4% higher while the Smallcap index gained 1.2%.
India Volatility Index ended with gains of 2.3% at the mark of 20.
1,361 stocks on the NSE ended with gains while 580 stocks posted losses.