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Markets rise on global cues: Sensex ends 193 pts higher, Nifty at 12,052

Analysts say the market surge could be attributed to short-covering as traders had built a lot of shorts during Monday's heavy sell-off

Jash Kriplani 

BSE Stock Exchange (Photo- Boomberg)
Analysts say the market surge could be attributed to short-covering as traders had built a lot of shorts during Monday's heavy sell-off.

Frontline indices — and — ended half a per cent higher on Tuesday, after gaining as much as 1.3 per cent during intraday trade.

The opened 307 points higher, taking cues from the Dow Jones’ and the Nasdaq's positive close on Monday. Oil prices also showed signs of easing, closing 0.3 per cent lower at 68.73 per barrel, back at Friday's levels.

Analysts say the market surge could be attributed to short-covering as traders had built a lot of shorts during Monday's heavy sell-off.

“Traders will now be in wait-and-watch mode, gauging how the US-Iran stand-off plays out," an analyst said. Both the and the ended 0.8 per cent lower from day's high.

Market

Source: Bloomberg



Indices

(* data for Jan 3 and Jan 6)

First Published: Tue, January 07 2020. 22:23 IST
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