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Sensex, Nifty Extend Gains To 2nd Straight Day

The Indian stock market ended on a firm note on Monday, despite paring a substantial portion of early gains. Friday's data from U.S. Labor Department that showed a much stronger than expected job growth in the month of December and news about resumption of trade talks between the U.S. and China set up a bright start for the market.

With quarterly results set to pour in from this week, investors appeared to be treading cautiously at higher levels. IT majors Infosys and Tata Consultancy Services are scheduled to report their third quarter earnings this week.

The benchmark BSE Sensex ended up 155.06 points, or 0.43%, at 35,850.16, well off the day's high of 36,076.95. The National Stock Exchange's Nifty50 ended at 10,776.60, gaining 49.25 points, or 0.46%. The Nifty touched a high of 10,835.95 in the session.

In the currency market, the rupee slipped after a positive start but regained lost ground subsequently and was down just marginally against the U.S. dollar. The rupee opened at 69.42 a dollar, strengthened to 69.23 subsequently before drifting down to a low of 69.93. It however, recovered to 69.68 as the day progressed and was down just 0.05% from previous close.

Information technology, telecom, consumer durables, power and realty shares were among the prominent gainers.

Automobile, bank, metal, oil, FMCG and healthcare stocks ended on a mixed note.

Axis Bank, the top gainer in both Sensex and the Nifty, ended 2.85% up on NSE. Bharti Infratel gained 2.8% and Tata Motors added 2.4%. Titan gained 2.1% up after the company raised its sales forecast.

Grasim Industries, Maruti Suzuki, Infosys, Tata Consultancy Services, HCL Technologies, Tech Mahindra, NTPC, Power Grid Corporation, UPL, Asian Paints and JSW Steel also ended notably higher.

ONGC gained 1.75% after the company said that its subsidiary ONGC Videsh Limited has achieved second consecutive success in an onshore well lndico-1 X, Colombia.

The market breadth was almost neutral. On BSE, 1314 stocks moved up and 1287 stocks declined, while 204 stocks ended flat.

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