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    Closing bell: Sensex surges 508 points, Nifty ends above 14,450

    Closing bell: Sensex surges 508 points, Nifty ends above 14,450

    Closing bell: Sensex surges 508 points, Nifty ends above 14,450
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    By CNBCTV18.com  IST (Updated)

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    The Indian equity indices, Sensex and Nifty ended over 1 percent higher on Monday led by gains in metals, banks and financial stocks amid positive global cues.

    The Indian equity market ended over 1 percent higher on Monday led by gains in metals, banks and financial stocks amid positive global cues. The Sensex gained 508.06 points, or 1.06 percent to 48,386.51, while the Nifty ended 143.65 points, or 1.00 percent higher at 14,485.00.
    Broader markets, smallcap and midcap indices supported the rally closing with strong gains.
    Among sectors, Nifty Realty gained the most over 4 percent followed by Nifty Metal, Nifty PSU Bank, Nifty FMCG and Nifty IT. Selling was seen in the pharma index.
    Axis Bank, JSW Steel, UltraTech Cement, ICICI Bank and Grasim Industries were the top Nifty50 gainers, while Cipla, Britannia Industries, HCL Technologies, BPCL and Sun Pharmaceuticals were the top index losers.
    ”Domestic equities shrugged off rising COVID-19 cases and rebounded mainly led by sharp recovery in financials,” said Binod Modi, Head Strategy at Reliance Securities.
    Barring pharma, most of the key sectoral indices traded in the green. Strong March quarter performance led ICICI Bank to recovery sharply, while HCL Technologies witnessed sell-off due to subdued 4Q performance, he added.
    With 3,52,991 people testing positive for coronavirus infection in a day, the highest so far, India’s total tally of COVID-19 cases has climbed to 1,73,13,163 while active cases have crossed the 28-lakh mark, according to the Union Health Ministry data updated on Monday.
    Elsewhere in Asia, bourses in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul were in the positive terrain. Stock exchanges in Europe were largely trading with losses in mid-session deals.
    -With inputs from PTI
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