Nifty Rallies As US Markets Surge To Record Highs
Benchmark indices rallied in trade, as US markets surged to record highs.
Benchmark indices opened the day higher, as US markets surged to a new record high and Asian markets were substantially higher.
Stocks that lost ground in trade were very few. Among those included names like Dr Reddy's Aurobindo Pharma and HCL Tech. Shares in Phoenix Mills was trading higher after reports that the company plans to acquire 20.01 percent stake of K2A Hospitality held in Alliance Spaces. The stock was up 2.5 per cent in trade.
Among the other non index stock that surged was Gujarat Ambuja Exports after the company said that a board meeting on December 13 would be considered to buy back shares.
Software stocks saw good buying support with stocks like Infosys, TCS and Wipro all among the gainers in trade. Metal stocks also were among the gainers with Tata Steel and Hindalco among the gainers in trade.
The rupee meanwhile opened strong at 67.43 to the US dollar.
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