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Taking Stock | Strong results over the weekend and FII buying lift Nifty past 18,200

Better-than-expected results by banking majors Bank of Baroda and State Bank of India aided the sentiment. That apart, global markets displayed strength following a strong closing by the US markets on Friday.

November 07, 2022 / 04:38 PM IST

The domestic equity market on November 7 reacted positively to the solid global cues as the benchmark indices settled 0.5 percent higher. Strong FII buying too bolstered investor sentiment. A sharp fall in the Indian rupee against the US Dollar encouraged the FIIs to continue their buying for the second session in a row which can sustain ahead if the rupee weakens further.

At close, the 30-pack BSE was 235 points or 0.4 percent up at 61,185 while the broader Nifty was up 86 points or 0.47 percent to close at 18,203.

Better-than-expected results by banking majors Bank of Baroda and State Bank of India aided the sentiment. That apart, global markets displayed strength following a strong closing by the US markets on Friday.

Nifty witnessed a gap-up start but immediately ran into profit-taking and made an intra-day low in the afternoon session. However, it staged a smart recovery to close near the day’s high.

IndexPricesChangeChange%
Sensex60,663.79377.75 +0.63%
Nifty 5017,871.70150.20 +0.85%
Nifty Bank41,537.6546.70 +0.11%
Nifty 50 17,871.70 150.20 (0.85%)
Wed, Feb 08, 2023
Biggest GainerPricesChangeChange%
Adani Enterpris2,164.25361.30 +20.04%
Biggest LoserPricesChangeChange%
Power Grid Corp212.00-4.85 -2.24%
Best SectorPricesChangeChange%
Nifty Metal5975.15217.80 +3.78%
Worst SectorPricesChangeChange%
Nifty FMCG45771.6013.50 +0.03%