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Sensex, Nifty End On Flat Note

Indian shares ended on a flat note Tuesday as commodity-related stocks gained ground, offsetting losses in the banking and financial sectors.

The benchmark S&P BSE Sensex gave up most of its early gains to end the session up 7.09 points, or 0.01 percent, at 49,751.41, snapping a five-day losing streak.

The broader NSE Nifty index ended up 32.10 points, or 0.22 percent, to 14,707.80.

Rising copper prices pushed metal stocks higher for the second day running, with Tata Steel surging 7.2 percent and Hindalco climbing 5.7 percent.

Tata Motors jumped 6.6 percent as brokerages raised their target prices on the stock, citing improved profitability and positive free cash flow targets for its CV and passenger vehicle businesses.

Oil companies surged as oil prices jumped by more than $1, underpinned by optimism over Covid-19 vaccine rollouts and lower output.

ONGC soared 5.7 percent, BPCL rallied 3.4 percent, HPCL advanced 1.6 percent and IOC climbed 2.2 percent.

UPL added 5 percent. The company reported a serious fire at one of its plants at Jhagadia in Gujarat but no casualties were reported.

On the flip side, Kotak Mahindra Bank shares tumbled 3.9 percent while Divis Laboratories, Bajaj Auto, Maruti Suzuki India and Adani Ports dropped 1-2 percent.

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