Sensex falls 278 points from day’s high; Nifty ends at 11656

Sensex falls 278 points from day’s high; Nifty ends at 11656
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Mumbai, Apr 1: The benchmark indices are trading higher led by gains in metal, PSBs, and IT stocks.
The S&P BSE Sensex moved up over 1 per cent, or 390 points, to hover around 39,060 levels, with Tata Motors, Vedanta Limited, Tata Steel, Maruti, and ICICI Bank among the top contributors.
The Nifty50 also breached the 11,700 level for the first time since September 2018 and was trading around 11,720, up 100 points or 0.86 per cent.
All the sectoral indices, except Nifty Realty and Nifty FMCG, were trading in the green, led by the Nifty Metal index which surged 3.03 per cent higher while the Nifty PSU Bank index was trading 3.01 per cent higher. The broader market outperformed the bechmarket indices. The S&P BSE MidCap index was trading 1 per cent, or 163 points, higher at 15,643, while the S&P BSE SmallCap index was ruling at 15,200, up 173 points or 1.15 per cent.
Shares of Tata Motors were trading 5 per cent higher at Rs 183 on the BSE in early morning trade after the company’s wholly-owned subsidiary Jaguar Land Rover (JLR) said it expects improved financial results for the quarter ended March 2019 (Q4FY19).
Units of Embassy Office Parks REIT rose as much as 5.9 per cent to Rs 317.70 apiece in the early morning trade on BSE after making a debut at Rs 300, the same as the issue price. READ MORE
Asian stocks powered higher on Monday as positive Chinese factory gauges and signs of progress in Sino-US trade talks boosted sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan added 1 per cent and the Shanghai Composite Index rallied 2.4 per cent. Australian stocks climbed 0.6 percent, South Korea’s KOSPI gained 1.3 percent and Japan’s Nikkei advanced 1.4 per cent.