Sensex, Nifty Erase Early Losses To End Higher
(RTTNews) - Indian shares recovered from an early slide to end higher on Monday, with IT and metal stocks leading the surge.
IT stocks posted strong gains as signs of easing inflation in the U.S. and Europe raised hopes that major central banks are approaching the end of tightening cycles.
Metal stocks benefited from China stimulus optimism after the country's State Council announced further measures to bolster consumption.
The benchmark S&P BSE Sensex ended the session up 367.47 points, or 0.56 percent, at 66,527.67 while the broader NSE Nifty index settled 107.75 points, or 0.55 percent, higher at 19,753.80.
Tech Mahindra, Adani Ports, ONGC, Power Grid Corp and NTPC jumped 3-4 percent in the Nifty pack, while Apollo Hospitals Enterprise led loses to close 3 percent lower.
Kotak Mahindra Bank, Bajaj Finance, HDFC Life and Britannia Industries fell 1-2 percent.
Welspun India soared 9 percent after reporting its June quarter results. Mishra Dhatu Nigam rallied 7 percent after bagging new orders worth Rs 178.54 crore.
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