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MARKET WRAP: Sensex surges 449 points on buying in financial, FMCG counters
All that happened in the markets today
The domestic stock market ended around one per cent higher on Monday on the back of gains in financial and FMCG stocks. Positive global cues also boosted investor sentiment.
Among headline indices, the S&P BSE Sensex settled 449 points, or 1 per cent higher at 40,432 levels and the Nifty50 index topped the 11,850-mark to settle at 11,873, up 111 points, or 0.94 per cent. ICICI Bank (up 5 per cent) ended as the biggest gainer on Sensex while Bajaj Auto (down nearly 2 per cent) was the biggest loser.
In the broader market, the S&P BSE MidCap index ended at 14,706, up 0.58 per cent while the S&P BSE SmallCap index ended at 14,851, up 0.43 per cent.
European stocks rallied on Monday as rising hopes of a coronavirus vaccine by the end of the year and a US fiscal package before elections offset concern over record daily infections in the region.
Wall Street futures rose 0.9 per cent.
In commodities, oil prices fell as concerns over surging coronavirus cases globally dampened the prospects for demand recovery while China’s third-quarter economic growth was weaker than expected.
(With inputs from Reuters)