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Today The
Stock market continues its momentum boosted by Pharma, oil, banks and FMCG
stocks. The Sensex is up 295.98 points or 1 percent at 27307.29 and the Nifty
is up 91.25 points or 1 percent at 8272.75. About 1645 shares have advanced,
523 shares declined, and 119 shares are unchanged. ONGC and Cipla are up 4
percent while Hindalco, M&M and Bajaj Auto are top gainers in the Sensex.
Among the losers are Tata Motors, Bharti Airtel, L&T and Wipro.
Shares of ONGC and Oil India rose 4-5 percent intraday as the government has decided to scarp fuel subsidy-sharing. Chris Wood, CLSA said Greed & Fear is going to make some small adjustments in the Asia Pacific (ex-Japan) relative-return portfolio this week. The market remained strong in morning trade, rising over a percent led by short covering in banking & financials, FMCG, healthcare, select auto and oil stocks.
The Sensex climbed 284.54 points to 27295.85 and the Nifty jumped 79.45 points to 8260.95. Nearly four shares advanced for every share declining on the Bombay Stock Exchange. The BSE Midcap and Smallcap indices gained 0.5 percent and 1.2 percent, respectively. ONGC and Oil India gained 3.5-4 percent after finance ministry official said the government will bear entire fuel subsidy from now.
Shares of ONGC and Oil India rose 4-5 percent intraday as the government has decided to scarp fuel subsidy-sharing. Chris Wood, CLSA said Greed & Fear is going to make some small adjustments in the Asia Pacific (ex-Japan) relative-return portfolio this week. The market remained strong in morning trade, rising over a percent led by short covering in banking & financials, FMCG, healthcare, select auto and oil stocks.
The Sensex climbed 284.54 points to 27295.85 and the Nifty jumped 79.45 points to 8260.95. Nearly four shares advanced for every share declining on the Bombay Stock Exchange. The BSE Midcap and Smallcap indices gained 0.5 percent and 1.2 percent, respectively. ONGC and Oil India gained 3.5-4 percent after finance ministry official said the government will bear entire fuel subsidy from now.
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