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Taking Stock: Sensex, Nifty scale new highs on positive global cues; metal, pharma rally
Indian markets started the week on a strong note to gain over a percent to scale new highs on August 30 supported by positive global cues as Federal Reserve Chair Jerome Powell's stopped short of giving a clear signal on pairing economic support.At close, the Sensex was up 765.04 points, or 1.36 percent, at 56,889.76, and the Nifty was up 225.80 points, or 1.35 percent, at 16,931."Indices and stocks surged through the day on positive global cues buoyed by the Fed commentary. The rally today was pretty much broad-based as expectations on the first quarter GDP numbers slated to be released tomorrow aided investor sentiment," S Ranganathan, Head of Research at LKP securities, said.The rally gathered momentum in the afternoon trade, as indices rose 1.5 percent with several stocks across sectors participating in the rally, Ranganathan added.Bharti Airtel, Divis Labs, Axis Bank, Tata Steel and Coal India were the top Nifty gainers. Tech Mahindra, Eicher Motors, Nestle, Infosys and TCS were among the top losers.The broader market outperformed the benchmarks, with BSE midcap and smallcap indices rose 1.5 percent each.Barring IT, all other sectoral indices ended in the green, with the Nifty Bank, metal, pharma and PSU Bank rising 2 percent each.Stocks & sectorsOn the BSE, except IT index all other indices ended in the green bank, oil & gas, metal, realty and power indices up 2 percent each.Among
theworldlivenews.com/taking-stock-sensex-nifty-scale-new-...
Taking Stock: Sensex, Nifty scale new highs on positive global cues; metal, pharma rally
Indian markets started the week on a strong note to gain over a percent to scale new highs on August 30 supported by positive global cues as Federal Reserve Chair Jerome Powell's stopped short of giving a clear signal on pairing economic support.At close, the Sensex was up 765.04 points, or 1.36 percent, at 56,889.76, and the Nifty was up 225.80 points, or 1.35 percent, at 16,931."Indices and stocks surged through the day on positive global cues buoyed by the Fed commentary. The rally today was pretty much broad-based as expectations on the first quarter GDP numbers slated to be released tomorrow aided investor sentiment," S Ranganathan, Head of Research at LKP securities, said.The rally gathered momentum in the afternoon trade, as indices rose 1.5 percent with several stocks across sectors participating in the rally, Ranganathan added.Bharti Airtel, Divis Labs, Axis Bank, Tata Steel and Coal India were the top Nifty gainers. Tech Mahindra, Eicher Motors, Nestle, Infosys and TCS were among the top losers.The broader market outperformed the benchmarks, with BSE midcap and smallcap indices rose 1.5 percent each.Barring IT, all other sectoral indices ended in the green, with the Nifty Bank, metal, pharma and PSU Bank rising 2 percent each.Stocks & sectorsOn the BSE, except IT index all other indices ended in the green bank, oil & gas, metal, realty and power indices up 2 percent each.Among
theworldlivenews.com/taking-stock-sensex-nifty-scale-new-...