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Opening Bell: Sensex hits record high, up 250 points; Nifty above 11,950

Opening Bell: Sensex hits record high, up 250 points; Nifty above 11,950

Opening Bell: Sensex hits record high, up 250 points; Nifty above 11,950
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By CNBC-TV18 Nov 4, 2019 9:54:23 AM IST (Published)

The BSE Sensex surged 270 points to hit a record high on Monday, supported by gains in shares of metal and banking and financial services companies.

The BSE Sensex surged 270 points to hit a record high on Monday, supported by gains in shares of metal and banking and financial services companies. The 30-share index opened at 40,293.85 and hit an all-time high of 40,434.83.

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Positive sentiment in the global markets over progress in the US-China trade talks boosted Indian markets. Asian shares rose to 14-week highs as growing optimism over US-China trade talks and upbeat US job data boosted global investors’ appetite for riskier assets.
At 9:26 am, the Sensex was trading 249 points higher at 40,396, while the broader Nifty50 index added 80 points to trade at 11,970.
Intraday, the 50-share Nifty surged 84 points to a high of 11,974.80—128.25 points away from its record high of 12,103.05.
Bharti Infratel, Vedanta, Tata Steel, Hindalco, and JSW Steel were the top gainers on the Nifty50, while YES Bank, Zee, Tata Motors, Infosys, and Maruti led the losses.
Sectoral indices were trading mixed at opening deals. Nifty Metal rose the most, up 1.3 percent, followed by Nifty Realty, up 0.8 percent. Meanwhile, Nifty PSU Bank and Nifty Bank indices rose 0.5 percent, and 0.3 percent, respectively. Nifty Pharma was up 0.5 percent and Nifty FMCG added 0.4 percent. However, Nifty Auto fell 0.2 percent and Nifty Media declined 0.4 percent.
YES Bank tanked 4 percent after the lender posted a net loss of Rs 600.1 crore during the September quarter due to a one-time deferred tax asset (DTA) adjustment of Rs 709 crore on account of change in corporate tax rate regime.
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