The market continues to rise with the Sensex up 121.85 points or 0.5 percent at 26335.29 The Nifty is up 39.55 points or 0.5 percent at 8072.40.
About 1320 shares have advanced, 382 shares declined, and 76 shares are unchanged.
Cipla, Wipro, Dr Reddy’s Labs, Axis Bank and Lupin are top gainers while Tata Steel and Tata Motors are losers in the Sensex.
Meanwhile, analyst Jim Rickards said Federal Reserve hiked interest rates just two weeks ago for the second time in a decade, but it will soon be cutting them again. said a stock market correction is coming as President-elect Donald Trump’s economic stimulus plans will not pan out, causing a “head-on collision” between perception and reality.
The markets have been rallying on the back of Trump’s win as investors bet on tax cuts and fiscal spending under the new administration.
Gold rose for the fourth straight session, on a technically-driven rebound in thin volume, amid a slightly weaker dollar. Expectations of further US interest rate increases lower demand for the non-yielding assets such as bullion, while boosting the dollar, in which it is priced.
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