Nifty scales 16,000 on hopes of faster economic recovery
The Hindu
Titan, HDFC lead gains as GST, export data buoy sentiment
The Sensex and Nifty rose to record closing highs on Tuesday, with the NSE’s 50-company benchmark closing above the 16,000 level amid renewed investor interest in stocks on bets that the economy may recover faster than anticipated earlier. The S&P BSE Sensex gained 872.73 points, or 1.65%, to 53,823.36 while the NSE Nifty 50 added 245.60, or 1.55%, to end at 16,130.75. On the BSE, the top gainers included Titan, which rose 3.89%, HDFC, up 3,72%, Nestle, IndusInd Bank and UltraTech Cement. Majority of the sectoral indices reported gains except for media and metals.
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Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
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