Sensex scales 49,500, ends 296 points higher; Nifty above 14,900, Business & Economy News

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Stock market indices, Sensex and Nifty ended higher on Monday led by strong gains in metals and pharma stocks amid positive global cues. Midcap and smallcap indices ended over 1 per cent higher each. 

The BSE barometer of 30-shares hit an intra-day high of 49,617 before ending the session at 49,502 levels, up 296 points or 0.6 per cent.

On the NSE, the Nifty50 index reclaimed the crucial 14,900-mark and extended it rally to as high as 14,967 during the day. It ended the day at 14,942 levels, up 119 points or 0.8 per cent, riding on the back of gains in Coal India, UPL, Hindalco, Indian Oil Corporation, Tata Motors, L&T, and Divis Labs. These stocks rallied up to 8 per cent.

Global markets

World stocks ticked up to new peaks on Monday on bets interest rates will remain low and the economies will continue their recovery. MSCI’s gauge of stocks across the globe hit a fresh record high and was up 0.1 per cent. 

Europe’s STOXX 600 regional benchmark was up 0.1 per cent in early deals, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent.

In the commodities market, however, oil prices rose after a cyber attack shut down a US pipeline operator that provides nearly half of the US east coast’s fuel supply. Brent crude rose 0.5 per cent to $68.64 per barrel, while US crude ticked up 0.5 per cent to $65.23 a barrel.

(With inputs from Reuters)

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