Sensex sheds major gains, rupee continues to weaken

MUMBAI: As the resurgent COVID cases raise concerns of impact on economic recovery, key Indian equity indices shed their major initial gains to end marginally higher on Thursday.

Noting that equity markets gained for the third day in a row, Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that last hour selling in banking and financials capped the gains.

"Global markets were mixed after Federal Reserve's commentary reinforced that the central bank plans to maintain its policy support despite massive fiscal spending from the recent government stimulus package," he said.

The BSE Sensex closed at 49,746.21, higher by 84.45 points, or 0.17 per cent, from its previous close of 49,661.76.

It had opened at 49,885.26 and touched an intra-day high of 50,118.08 and a low of 49,581.61 points. The Nifty50 on the National Stock Exchange closed at 14,873.80, higher by 54.75 points, or 0.37 per cent, from its previous close. (IANS)

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