Afternoon Session: Markets extend rally, Nifty trades above 12,000; metal stocks gleam

Updated : November 25, 2019 01:27 PM IST

Indian equity benchmark indices extended the early morning rally in Monday's afternoon session led by positive comments by the US and China on the trade deal.

At 12:50 pm, the Sensex was trading 387 points or 0.96 percent higher at 40,747.05 while the Nifty50 rallied 117 points or 0.98 percent higher at 12,031.65.

Nifty Metal remained the best-performing index of the day, surging 2.58 percent followed by Nifty Auto, Nifty Realty and Nifty Pharma.

Indian equity benchmark indices extended the early morning rally in Monday's afternoon session led by positive comments by the US and China on the trade deal.

At 12:50 pm, the Sensex was trading 387 points or 0.96 percent higher at 40,747.05 while the Nifty50 rallied 117 points or 0.98 percent higher at 12,031.65. Nifty Midcap100 index remained ahead of Nifty Smallcap100 in terms of gains, rallying 0.77 percent and 0.48 percent respectively.

Bharti Infratel, Bharti Airtel, Hindalco, Tata Steel, and Grasim were the Nifty50 top gainers in the afternoon trading session while Zee Entertainment, YES Bank, ONGC, GAIL, and Wipro remained the top losers.

Nifty Metal remained the best-performing index of the day, surging 2.58 percent followed by Nifty Auto (1.31 percent), Nifty Realty (1.20 percent) and Nifty Pharma (1.14 percent).

Shares of Reliance Communications' sister companies were trading lower on Monday after the lenders rejected the resignation of Anil Ambani and four other directors.

Ashoka Buildcon's share price surged over 11 percent on Monday after its subsidiary Ashoka Concessions Ltd received a Letter of Award (LOA) from the National Highways Authority of India for a project worth Rs 1,000 crore.

On the Asian markets' front, the shares staged a cautious rally on Monday as investors dared to hope for some progress in the endless Sino-U.S. trade dispute, while the outperformance of recent U.S. economic data gave the dollar a leg up on its peers.

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