Business Economy


Stock markets extend winning streak, Sensex gains over 1200 points

New Delhi, Nov 3 (UNI) Indian stock markets on Tuesday extended their winning streak for a fourth consecutive session. Nifty crossed the 23,800 mark and Sensex climbed over 1200 points. Strong Q2 earnings and buying in auto, FMCG, realty and private banking stocks lead the uptick in the markets.
At close, the Sensex was up 1,225.07 points or 1.62 percent at 76,917.85, and the Nifty was up 370.05 points or 1.58 percent at 23,810.85. Nifty midcap index rising 0.8 percent and smallcap index gaining 0.3 percent.
Among the sectors, Nifty FMCG led the gainers, rising 2.5 percent. The index was followed by Nifty Realty gaining 2.10 percent, Nifty Private Bank by 1.98 percent, Nifty Auto by 1.7 percent, Nifty Bank by 0.8 percent and Nifty Media up by 0.5 percent.
On the losing side were Nifty PSU Bank declining 1.4 percent, and Nifty Energy by 0.4 percent.
Top Nifty gainers were BSE Limited, Tata Consumer, Asian Paints, Bharti Airtel, Nestle, while losers included Infosys, SBI, ONGC, Power Grid Corp and Adani Enterprises.
Indian rupee strengthened for the third consecutive session, rising 16 paise to close at 94.74 against the US dollar.
Nearly 100 stocks touched 52-week high, including Stocks of Shyam Metalics, Bosch, Welspun Living, PVR INOX, Indian Hotels, Eternal, Anand Rathi, Ather Energy, Divis Labs, Sona BLW, Coforge, Zydus Life, among others.
Vinod Nair, Head of Research, Geojit Investments Limited said, "Indian equities extended their recovery as a sharp decline in crude oil prices, declining U.S. Treasury yields and renewed FII interest eased recent macro pressures. Resilient Q2 earnings further strengthened confidence in the domestic growth outlook, while the return of foreign investors after prolonged selling provided a liquidity boost, driving broader participation led by financials and consumption-oriented sectors. Going forward, the durability of the recovery will hinge on broader earnings delivery, sustained FII inflows and continued moderation in oil prices and global yields, with geopolitical developments and the Fed’s policy trajectory remaining the key external triggers."UNI VK AAB
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