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Sensex ended at 48,600.61, up 2314.84 or 5.00%, while Nifty climbed 646.60 points or 4.74% to settle at 14,281.20.
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After touching an intra-day high of 48,641.23, the 30-share Sensex was trading 2,311 points or 4.99 per cent higher at 48,595.25; and the broader Nifty surged 462.15 points or 3.39 per cent at 14,096.75.
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Indian Oil Corporation Ltd is quoting at Rs 94.9, up 1.77% on the day as on 12:49 IST on the NSE. The stock is down 12.17% in last one year as compared to a 18.43% gain in NIFTY
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Shares of nine textile firms gained in trade after the central government announced plans to set up mega textile parks in India.
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The 30-share Sensex was trading 929.54 points or 2.01 per cent higher at 47,215.31; and the broader Nifty surged 260.05 points or 1.91 per cent at 13,894.65.
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Sales rise 12.23% to Rs 56.89 crore
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Shares of five hospital operators rose 1% to 4% after the central government announced a Rs 64,180 crore spending plan for healthcare over the next six years.
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Benchmark equity indices BSE Sensex and NSE Nifty opened higher on Monday ahead of the Union Budget 2021.
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Market is awaiting key reforms that could push growth and kickstart the capex cycle in the economy.
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Benchmark equity indices BSE Sensex and NSE Nifty are likely to stay volatile on the budget day on February 1.