India stock markets scale new heights on US stimulus dose, Brexit deal
PTI/Mumbai
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Sensex and Nifty race to new peaks as investors cheer $2.3 trillion US stimulus package
Extending gains for the fourth straight session, key stock indices Sensex and Nifty raced to new peaks on Monday in line with broad-based rally in global equities as investors cheered a $2.3 trillion US stimulus package and last-minute Brexit deal. The benchmark index Sensex settled up by 380.21 points or 0.81 per cent at its all-time closing high of 47,353.75. The index also scaled its fresh record intra-day peak of 47,406.72 on the back of gains in banking and energy stocks.
Sensex, Nifty at their highest-ever closing levels; will bulls continue to dominate this week?
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Sensex, Nifty continue upward march; what do experts make of today s move on Dalal Street
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NEW DELHI: Continuing its recovery path, the Nifty gained 1 per cent on Wednesday forming a bullish candle on the daily chart.
Rohit Singre, Senior Technical Analyst at LKP Securities said, “On the hourly chart, it seems index is in V-shaped recovery and if it turns to be true then we may see a current pullback to extend further towards 13,775, which is previous swing high and on other hand, good supports are formed near 13,550-13,460 zone.” Market is continuing its rally amidst concerns over new virus strain, lockdown and weak global cues, fueled by IT, mid and smallcaps. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and EMs are maintaining buoyancy. In the coming days, the market will also focus on Brexit trade deals, which are expected to be finalized soon and fallout in the economy due to strict lockdown, said Vinod Nair, Head of Research at Geojit Financ