Nifty Reclaims 10,800 Levels:
Benchmark indices rallied sharply in opening on Thursday, continuing uptrend for third straight session after retail inflation and IIP data.
The Sensex rose 233.07 points to 36,012.14 and the Nifty gained 68.30 points at 10,805.90.
SBI, Vedanta, JSW Steel, Indiabulls Housing Finance, Yes Bank, HUL, Maruti Suzuki, HPCL and Bajaj Finserv were early gainers.
UPl, Kotak Mahindra Bank, Tech Mahindra, Lupin, Sun Pharma and Cipla were under pressure.
Nifty Midcap gained 116 points and Nifty Bank rallied 176 points.
Bandhan Bank, Indian Bank, Bank of India, Edelweiss Financial, Corporation Bank, ICICI Prudential Life, AU Small Finance Bank, Jet Airways and InterGlobe Aviation, MTNL, SpiceJet and Titagarh Wagons were early gainers among broader space.
Rupee Extends Gains
The rupee appreciated by 45 paise to 71.56 in morning after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues.
Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit.
"The new RBI governor's first speech confirms our initial impression that he is likely to be more communicative and consultative in his approach, which is a positive," Japanese financial services major Nomura said in a research note. Source: PTI
Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-above-10800-sensex-gains-over-200-pts-rate-cut-hope-lifts-banks-nbfcs-3285011.html
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