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Sensex Gains 255 Points; Nifty Reclaims 11,750

Indian shares rose notably on Friday, a day after benchmark indexes halted their longest winning streak in nearly six years amid a global sell-off on fears of a second wave of Covid-19 infections in Europe.

The benchmark S&P BSE Sensex rose 254.57 points, or 0.64 percent, to 39,982.98, with financials and metal companies leading the surge. The broader NSE Nifty index ended up 82.10 points, or 0.7 percent, at 11,762.45.

Divis Laboratories, Hindalco, BPCL, Tata Steel and JSW Steel surged 4-7 percent, while UPL lost as much as 7.7 percent after KPMG had resigned as auditors of their material Mauritius subsidiary.

HCL Technologies tumbled 3.5 percent after the company reported a higher sequential growth in revenue for the September quarter on the back of a lower base in the previous quarter.

MindTree plunged almost 7 percent on brokerage downgrades amid valuation concerns.

Globally, other Asian markets ended mixed as uncertainty about new U.S. fiscal stimulus coupled with the resurgence in coronavirus cases in Europe stoked concerns about a global economic recovery.

European stocks rebounded from two-week lows, but the upside remained capped by concerns surrounding a fresh round of lockdowns, vaccine delays and the stalemate in the U.S. over fiscal stimulus.

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