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MARKET WRAP: Sensex rallies 281 points, Nifty ends at 11,076; BPCL gains 6%

All that happened in markets today.

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
Benchmark indices surged in the last hour of Friday's session after trading in a range-bound manner for a major part of the day. The S&P BSE Sensex rallied  281 points or 0.76 per cent to 37,385 while NSE's Nifty50 index reclaimed the crucial 11,000 level to end at 11,076, up 93 points or 0.85 per cent.

Investor sentiment got a major boost as signs of progress in US-China trade talks and aggressive stimulus from the European Central Bank helped to calm fears of a global economic slowdown.

Vedanta (up around 3 per cent) emerged as the top gainer on the S&P BSE Sensex while Bharti Airtel (down over 1 per cent) was the biggest loser. During the day, the 30-share index hit a high and low of 37,413.50 and 37,000.09, respectively. 

In the broader market, the S&P BSE MidCap index ended at 13,666 levels, up 56 points or 0.41 per cent. Meanwhile, the S&P BSE SmallCap index surged 105 points, or 0.82 per cent, to 13,013.05 levels.

The Nifty sectoral indices, except pharma, ended in the green. While Nifty Realty index rose the highest - 1.46 per cent, Nifty Auto index also gained 1.05 per cent. On the other hand, Nifty Pharma lost 0.85 per cent.

Volatility index India VIX dropped around 7 per cent to 13.90 levels. 

On a weekly basis, the S&P BSE Sensex gained 1 per cent while NSE's Nifty added 1.18 per cent. 

BUZZING STOCKS

Shares of Bharat Petroleum Corporation Ltd (BPCL) ended over 6 per cent higher at Rs 409 apiece on the BSE on reports that the government is considering selling its stake in the public sector oil behemoth to a global oil company. READ MORE

Shares of Khadim India Limited surged 15 per cent to Rs 269.70 apiece on the BSE, thus extending its rally for third straight day after the company announced, on Tuesday, the opening up of a subsidiary in Bangladesh. READ MORE

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