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Opening Bell : Equity benchmarks recovered early losses with the Nifty rising over 8600 level on first day of November series. Select Tata Group stocks like Tata Motors (up 2.6 percent) and Tata Steel (up 1.7 percent) rebounded sharply on short covering after sharp sell-off in previous three consecutive sessions due to Tata-Mistry issue. The 30-share BSE Sensex was down 17.84 points at 27898.06 and the 50-share NSE Nifty gained 7.65 points at 8622.90 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices gained nearly 1 percent each on strong breadth. About two shares advanced for every shares declining on the exchange. Tech Mahindra maintained its rally of 6 percent after strong dollar revenue growth of 5 percent QoQ in constant currency.
Opening Bell : Equity benchmarks continued to consolidate with the Nifty hovering in 20 points range while the broader markets outperformed. The BSE Midcap and Smallcap indices gained 0.4 percent each. The 30-share BSE Sensex was down 27.98 points at 28745.15 and the 50-share NSE Nifty fell 4.65 points to 8862.80 after rising more than 200 points in previous session. The market breadth was positive as about 1105 shares advanced against 842 declining shares on the BSE. L&T Technology Services, the subsidiary of engineering & construction giant Larsen and Toubro, has made its stock debut at Rs 920 per share, up 7 percent over its issue price of Rs 860.
Opening Bell : Equity benchmarks remained rangebound after over a percent loss in last week while the broader markets continued to outperform. The 30-share BSE Sensex was up 53.20 points at 27726.80 and the 50-share NSE Nifty rose 2.45 points to 8585.85. The BSE Midcap and Smallcap indices gained 0.4 percent each on positive breadth. About two shares advanced for every share falling on the exchange. ICICI Bank extended rally to 5.5 percent on hopes of repayment of loan from Essar Oil. Granules India shares gained 4.7 percent intraday after the US health regulator completed inspection of company's Hyderabad-based plant.
Opening Bell : Equity benchmarks continued to rally in morning trade with the Sensex surging 350 points, driven by banks, infra, metals and pharma stocks. Short covering and global cues drove the market higher. The 30-share BSE Sensex was up 349.62 points or 1.28 percent at 27602.15 and the 50-share NSE Nifty gained 116.50 points or 1.38 percent at 8548.50 while the broader markets outperformed. The BSE Midcap and Smallcap indices rallied 2 percent each on strong breadth. About 8 shares advanced for every share declining on the exchange. Nifty Realty index surged 4.5 percent after losing more than 10 percent on black money crackdown. PSU Bank index gained further, up 5 percent while Metal surged 5.5 percent.
Many of the veteran analysts believe that the bull run in global and Indian markets remains intact, but expects domestic stocks to underperform global peers by a bit. Consider an example that if you get 10-12 percent returns for global equities this year, then traders will be up 8 percent. Analysts are bullish on domestic smallcap stocks. However, the Sensex has returned 12-12.5 percent ever since 2014.
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