BSE Sensex loses initial steam, up over 70 pts, Nifty below 8550
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Continuing its winning run for the third straight session, the benchmark BSE Sensex gained over 122 points in early trade today on sustained across-the-board buying by participants amid a rebound in Asian markets.
At 10:58 am, Sensex was up 73.41 points at 28,282.17 . Similarly, Nifty was up 24.85 points at 8,547.00 during the same time.
At 9.24 am, Sensex was up 117.03 points at 28,325.79. Similarly, Nifty was up 34.75 points at 8,556.90 during the same time.
The 30-share barometer rose 122.04 points or 0.43 per cent to 28,330.80. The gauge had gained 262.96 points in the past two sessions.
Stocks of HDFC, Axis Bank, Wipro, Tata Steel, SBI, ICICI Bank, Tata Motors, Coal India, M&M, GAIL, Bajaj Auto, Maruti Suzuki and NTPC were major gainers that supported the indices.
The NSE Nifty too advanced 32.75 points or 0.38 per cent to trade at 8,554.90.
Brokers said increased buying by foreign funds and retail investors, dismissing any adverse fallout from the Greece crisis amid hopes of a rates cut by the Reserve Bank following reports of above-normal progress in monsoon so far buoyed trading sentiments.
Besides, further strength in the rupee which appreciated by 8 paise to 63.32 against the US dollar in early trade was another positive factor, they added.
Among other Asian markets, Japan’s Nikkei was up by 1.36 per cent while Hong Kong’s Hang Seng rose 0.62 per cent in early trade today.
The US Dow Jones Industrial Average, however, ended 0.26 per cent lower in yesterday’s trade.
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Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
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About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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