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Sensex, Nifty End Off Day's Highs

Indian shares ended off their day's highs on Monday despite firm cues from other global markets.

While hopes of a revival package from the government and comments by RBI
Governor Shaktikanta Das assuring improved liquidity for NBFCs aided sentiment, rising oil prices and concerns over the flight of foreign funds prompted traders to book profits at higher levels.

The benchmark S&P BSE Sensex hit as high as 37,718.88 before giving up much of the gains to end the session up 52.16 points or 0.14 percent at 37,402.49.

The broader NSE Nifty index also ended off its day's highs at 11,053.90, up 6.10 points or 0.06 percent from its previous close.

Sun Pharma shares advanced 2.7 percent after the company signed a long-term licensing agreement with a subsidiary of China Medical System Holdings.

Titan, Infratel, Axis Bank and Tech Mahindra climbed 1-2 percent, while Coal India, GAIL, Indiabulls Housing Finance, Grasim Industries and Yes Bank fell 2-3 percent.

Coffee Day Enterprises rallied 5 percent after disclosing its debt position at group level.

Globally, Asian stocks rallied as investors cheered new fiscal measures being taken by major economies such as China and Germany to counter a possible recession.

European stocks also rose on improved risk appetite, as U.S. Treasury yields bounced back and media reports suggested that Washington and Beijing are working actively to revive negotiations aimed at ending the trade war.

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