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The benchmark indices recorded the best session in six weeks.
The NSE Nifty 50 ended 217.95 points or 0.91% higher at 24,213.30 and the BSE Sensex closed 694.39 points or 0.88% up at 79,476.63.
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Share prices of HDFC Bank, ICICI Bank, Axis Bank, State Bank of India and Tata Steel contributed the most to the gains in the Nifty.
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Infosys, ITC, Trent, Coal India and Adani Ports & Special Economic Zone capped the upside the most.
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Ten out of the 12 sectors on the NSE ended higher, led by the Nifty Metal and Finance.
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Only the Nifty FMCG and Media ended in the red.
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The broader markets underperformed the benchmark indices as the BSE MidCap and SmallCap ended 0.48% and 0.41% higher respectively.
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The market breadth was skewed in favour of the buyers as 2,472 stocks advanced, 1,478 declined and 108 remained unchanged on the BSE.
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The Indian rupee ended flat at 84.109 against the US dollar after hitting an all-time low at 84.129.
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