Business

Sensex up 832 pts, back in 60K zone

Mumbai: The market began November on a strong note, shaking off three days of losses, buoyed by robust corporate earnings and positive macroeconomic data.

The BSE Sensex reclaimed the 60000 level, rallying 831.53 points, or 1.40 per cent, to close at 60138.46. Similarly, the NSE Nifty rose 258 points, or 1.46 per cent, to end the day at 17,929.65.

Global markets too stayed in positive territory ahead of key central bank meetings this week, especially in the US, Britain and Australia.

"Domestic indices bounced back on a positive footing from the recent sell-off, due to strong momentum in global markets, favourable domestic economic data and good Q2 results announcement,” said  Vinod Nair, head of research at Geojit Financial Services.

Ajit Mishra, VP of research at Religare Broking.  "Considering the kind of valuation that we are trading at…it's prudent that the market should spend some time around the current levels before making any major directional move."
 Reuters said out of the 30 Nifty 50 firms that have reported Q2 results so far, 17 have beaten estimates.

Source:

www.deccanchronicle.com

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