Mishra advises investors to stick to their “buying on dips” approach.The Nifty crosses the 23,000 threshold.
Indian stock market: Driven by a reversal in outflows of foreign investors and optimism about possible progress in US-Japan trade discussions regarding mutual tariffs,the Indian stock market recently saw its greatest weekly surge in four years.
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The Sensex and Nifty 50, two domestic equity indices,increased 2% in the previous session,continuing their four-day winning streak during the week that was cut short by the holidays. The 30-stock BSE Sensex broke beyond the 78,000 barrier and closed at 78,553.20 after rising 1,508.91 points,or 1.96%.
Due to positive signals from both domestic and international fronts, markets recovered well and rose more than 4.5% during the week that was cut short by the holidays. The benchmark indices had a steep opening gap before building on their advances in later sessions. As a result,the Nifty and Sensex closed at 23,851.65 and 78,553.20,respectively,close to the week’s high, according to a note from Ajit Mishra,SVP,Research,Religare Broking Ltd.
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