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Sensex fluctuates after biggest rally in 5 months

Rajhkumar K Shaaw  |  Mumbai 

Indian banks and telecom stocks declined, while health-care and energy shares advanced as the benchmark gauge fluctuated after posting its biggest gain in five months. The S&P BSE Sensex fell 0.2 per cent after rising as much as 0.3 per cent earlier Wednesday. The measure jumped 1.9 per cent on Tuesday, the steepest climb among Asian gauges, as global funds turned net buyers of domestic shares for the first time in five days and speculation grew that the Federal Reserve will boost interest rates in December then not rush further increases as the US economy remains mixed. "After ...

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Sensex fluctuates after biggest rally in 5 months

Indian banks and telecom stocks declined, while health-care and energy shares advanced as the benchmark gauge fluctuated after posting its biggest gain in five months.The S&P BSE Sensex fell 0.2 per cent after rising as much as 0.3 per cent earlier Wednesday. The measure jumped 1.9 per cent on Tuesday, the steepest climb among Asian gauges, as global funds turned net buyers of domestic shares for the first time in five days and speculation grew that the Federal Reserve will boost interest rates in December then not rush further increases as the US economy remains mixed."After such a big move on Tuesday, the market is likely to take a breather," Rudramurthy BV, head of research at Vachana Investments Pvt, said by phone from Bengaluru. "The rally was due to short covering and buying from foreign and local institutions. Any decline from current levels is a good opportunity to buy." He is advising investors to buy lenders, automakers and oil companies.Global funds bought Rs 345 crore ( Indian banks and telecom stocks declined, while health-care and energy shares advanced as the benchmark gauge fluctuated after posting its biggest gain in five months. The S&P BSE Sensex fell 0.2 per cent after rising as much as 0.3 per cent earlier Wednesday. The measure jumped 1.9 per cent on Tuesday, the steepest climb among Asian gauges, as global funds turned net buyers of domestic shares for the first time in five days and speculation grew that the Federal Reserve will boost interest rates in December then not rush further increases as the US economy remains mixed. "After ... image
Business Standard
177 22

Sensex fluctuates after biggest rally in 5 months

Indian banks and telecom stocks declined, while health-care and energy shares advanced as the benchmark gauge fluctuated after posting its biggest gain in five months. The S&P BSE Sensex fell 0.2 per cent after rising as much as 0.3 per cent earlier Wednesday. The measure jumped 1.9 per cent on Tuesday, the steepest climb among Asian gauges, as global funds turned net buyers of domestic shares for the first time in five days and speculation grew that the Federal Reserve will boost interest rates in December then not rush further increases as the US economy remains mixed. "After ...

image
Business Standard
177 22