Nifty Rises As Dow Hits Another Record
Benchmark indices gained marginally as the US Dow Jones hit a another record high on the back of strong data.
Benchmark indices gained ground in trade, as the US Dow Jones hit another record high in trade. Most Asian markets followed Wall Street higher with the Japanese Nikkei, the Hong Kong's Hang Sang and the Singapore Strait Times all seeing smart gains.
Banking stocks that gained in trade were ICICI Bank, Axis Bank and Punjab National Bank. Shares in Bharat Forge moved higher after a surge in orders. Shares in Tata Power were also in the limelight after the company one an order from the Ministry of Defence. The stock was trading higher by 2 per cent.
Hindalco, Adani Ports and HDFC were among the stocks that gained in trade. Most of the stocks from the Nifty were trading higher. The only stock that saw some losses was ITC, which was down about 0.5 per cent.
The rate sensitive real estate sector also saw gains on hopes of a rate cut by the RBI on Wednesday. Among the stocks that gained from the space were Anant Raj and DLF. Meanwhile, the rupee opened at 68.10 to the US dollar.
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