The stock market has recovered from the shock on Thursday on Friday. There is an upward trend in both the stock market indices Sensex and Nifty today. Bombay Stock Exchange’s benchmark Sensex was trading at 72665.98 with a gain of 261.81 points at 10.56 am. Similarly, the National Stock Exchange index Nifty was also seen trading at the level of 22057.05 with a gain of 99.55 points. Asian markets were trading higher after overnight gains in the US market. Nifty FMCG index remained on top with a gain of 1.2 percent. Nifty Metal, Oil & Gas and Auto indices rose 1 per cent each. Nifty Pharma and Healthcare indices were up 0.7 per cent.
Fluctuations in stocks of these sectors
Barring IT, PSU Bank and Realty, all other sectoral indices were seen trading in the green, with FMCG, Pharma, Healthcare and Consumer Durables leading the way. Let us tell you, at 10 am, Sensex was up 529.55 points at 72,933.72 and Nifty was trading up 147.35 points at 22,104.85. Only eight out of 50 stocks on Nifty 50 were trading in the red. BPCL, ITC, JSW Steel, Sun Pharma and Asian Paints were the top gainers, while LTIMindtree, Infosys, Grasim Industries, Larsen & Toubro and Tata Consumer Products were the top gainers.
China downgrade and India upgrade
Citigroup downgraded China and upgraded India as Chinese stocks rose despite India’s weak fundamentals and good profits, Money Control reported. They expect emerging markets to benefit from earnings growth in India. Citigroup also adjusts allocations for South Africa, Southeast Asia, Poland and Saudi Arabia.
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