Indian equities continued their upward march for the second session on Tuesday, led by renewed interest in losing IT stocks, with selected auto and financial stocks also gaining significant ground. Strong global signals and some positive comments from analysts also helped the market recover from the recent attack. No negative signals were received from the US market as Wall Street was closed overnight due to a public holiday. At around 12 noon, the Sensex was up 855.20 points, or 1.66 percent, at 52,453.04, and the Nifty was up 257.80 points, or 1.68 percent, at 15,608. That said, investors are eagerly awaiting the Federal Reserve’s two-day test of the US Reserve. In Washington this weekend.
Key factors behind today’s stock market rally
Jump into S & P500 futures.
The S&P 500 September futures traded up 60.25 points, or 1.64 percent, at 3,736 today, signaling a positive start for US stocks after a long weekend. Asian markets were also trading higher, followed by Japan’s Nikkei at 2.44%, followed by Taiwan’s TWSE (2.24%), Hong Kong’s Hang Seng (1.5%) and Korea’s Kospi (1.24%).
Buy at affordable prices
In the last few months, equities have been pushed to black and blue, and so many standard names are available at bargain prices. It has attracted long-term investors to the market. This low level of purchase is one of the main reasons for the growing market today.
Many analysts have come up with recommendations that are available at ‘cheap’ prices. For example, Jefferies believes that IndusInd Bank, ICICI Pru Life, LIC Housing, Piramal Enterprises, Godrej Prop, DLF, Infosys, Coforge, Jubilant Food, Godrej Consumer, Dixon Tech, Crompton Electricals, Voltas, Fortis Healthcare and Gland Pharma tops.
The experts’ views and investment points in this News18.com report are their own, not those of the website or its management. Consumers are advised to consult a certified specialist before making any investment decision.
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