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Sensex closes at 48,437.78 with a rise of 260.98, Nifty at 14,199.50

(G.N.S) Dt. 5

Mumbai

The BSE index pared all losses and staged a smart recovery to end 260.98 points or 0.54 per cent higher at 48,437.78. It touched an all-time high of 48,486.24 during the day.

Similarly, the broader NSE Nifty rose 66.60 points or 0.47 per cent to settle at a new peak of 14,199.50. It scaled a record intra-day high of 14,215.60.

Axis Bank was the top gainer in the sensex pack, rallying over 6 per cent, followed by HDFC, IndusInd Bank, TCS, Asian Paints, Titan, HCL Tech and ICICI Bank.

On the other hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries were among the laggards.

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We still maintain our stance that the trend is volatile and pullback rally is in offing and selling may emerge, hence trader needs to be cautious at current level.

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