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Nifty Rallies As US Markets Surge To Record Highs

Benchmark indices rallied in trade, as US markets surged to record highs.

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Benchmark indices opened the day higher, as US markets surged to a new record high and Asian markets were substantially higher.

 

Nifty Rallies As US Markets Surge To Record Highs
The Sensex was trading with gains of 282 points, while the Nifty opened the day higher by 82 points. Leading the set of gainers in trade were banking stocks, which had dived following the RBI Monetary Policy. Among the gainers from the space were ICICI Bank, Bank of Baroda and State Bank of India.

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.

GoodReturns.in

Read more about: sensex nifty
Story first published: Thursday, December 8, 2016, 9:29 [IST]
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