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The smallcap index ended in the positive even as the advance decline ratio softened to 1.09:1. Nifty on Monday formed a small red candle with minor upper and lower shadows on the daily chart
Buying action was more visible in the broader market as the smallcap index rallied over 1% with Welspun Corp, Engineers India and Swan Energy rallying 7-9% each.
HB Stockholding, North Eastern, Alpa Labs, Dhunseri Petrochem and Concord Biotech Ltd., hit their fresh 52-week highs during the day.
The Nifty Pharma index closed 1.48 per cent up at 15497.25.
The Nifty Auto index closed 0.48 per cent up at 16220.8.