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Stock Market Highlights: Sensex ends above 49,000 for the first time; IT and auto stocks shine


Stock Market Highlights: Sensex ends above 49,000 for the first time; IT and auto stocks shine
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The benchmark indices opened with a gap and managed to hold a bullish stream throughout the day to end at fresh record highs on 11th January 2021 led by IT and Auto stocks.

At close, the Sensex was up 486.81 points or 1 per cent at 49,269.32 and the Nifty was up 137.50 points or 0.96 per cent at 14,484.

About 1423 shares have advanced, 1672 shares declined and 137 shares are unchanged.

On Nifty 50, Tata Motors (11.36 per cent), HCL Tech (6.08 per cent), Infosys (4.89 per cent) and Wipro (3.86 per cent) were the top gainers for the day, while Tata Steel (-2.49 per cent), Bajaj Finserv (-2.02 per cent), Bajaj Finance (-1.92 per cent) and Reliance (-1.89 per cent) were the top losers for the day.

On the sectoral front, IT index rose 3 per cent, the Auto index was up 2.6 per cent and FMCG and Pharma indices rose 1 per cent each, while the Metal index and Bank Nifty were down by 1 per cent and 0.27 per cent respectively.

Author’s View: The support on Nifty has shifted to 14,375 – 14,400. If this support level is sustained on Nifty we can see an upside move towards the 14,500-14,550 level.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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