Wednesday, 30 November 2016

Banks, auto stocks lift Nifty above 8200

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Equity benchmarks as well as broader markets gained for the fourth consecutive session on Wednesday with the Nifty closing above 8200 for the first time since November 11 despite continued selling by FIIs. The easing of demonetisation impact, appreciation in rupee, positive global cues and hopes of oil production cut by OPEC boosted the market sentiment. Banks and auto stocks led the charge. 

The 30-share BSE Sensex surged 258.80 points or 0.98 percent to 26652.81 and the 50-share NSE Nifty jumped 82.35 points or 1.01 percent to 8224.50 ahead of Q2 GDP data due later today. Investors are gradually showing interest in equities with a bottom up approach.

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