The Indian stock
market remains well entrenched in positive territory thanks to sustained buying
at several counters from across various sectors. Investors appear to be betting
on hopes the central bank will cut its policy rates in the next meeting. Money
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The Indian Share market is holding its strong
gains supported by metals, IT, auto, and Pharma and FMCG stocks. The Sensex is
up 189.62 points or 0.7 percent at 28261.55 and the Nifty is up 53.65 points or
0.6 percent at 8570.55. About 1762 shares have advanced, 652 shares declined,
and 117 shares are unchanged.
Tata Steel, Bajaj Auto, Vedanta, Infosys and Wipro are top gainers while GAIL,
M&M, SBI and ICICI Bank are among losers in the Sensex. Amid a weak trend
overseas, gold prices fell 0.28 percent to Rs 24,605 per 10 grams in futures
trade on Wednesday as participants reduced their exposure. The
Nifty has moved up 50 points or 0.59% to 8566.90. IT, metal, realty, power and
FMCG stocks are notably higher.
Globally, gold traded 0.3 percent down at USD 1,084.70 an ounce in Singapore on
Wednesday. Shares of Infosys, HDFC, TCS, Lupin, Wipro, ONGC, Bajaj Auto, Cipla
and Hero Motocorp advanced more than a percent. Tata Steel rallied more than 4
percent as Tata Sons will buy 2.18 percent stake in Titan Company from Tata
Steel at Rs 352.10 per share. Vedanta and Hindalco Industries climbed over 2
percent.
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