Ambuja
Cements topped the buying list on Nifty, up over 4 percent after
Nomura upgraded the stock to buy with target price of Rs 253 per
share. It believes cement demand growth in non-south regions is
likely to be strong.Equity
benchmarks continued to see short covering and little bit of value
buying as well. The 30-share BSE Sensex gained 263.71 points or 1.04
percent at 25717.27 and the 50-share NSE Nifty climbed 89.60 points
or 1.16 percent to 7806.60, led by banking & financials, capital
goods, auto and metal stocks.
The
BSE Midcap and Smallcap indices rallied too, up over 1.2 percent in
noon trade. The market breadth remained positive as about 1600 shares
have advanced against 660 shares declined on the Bombay Stock
Exchange.
There has been calm across Asia, as China and Hong Kong markets shut
today. Japan's Nikkei gained 0.5 percent while Straits Times and
Taiwan Weighted rose 0.8 percent each. European markets are likely to
open higher ahead of the ECB policy decision due later today.
Investor,
Marc Faber said data suggests economic growth in China is worse than
4 percent. He expects volatility in global markets to continue for
next 6 months. On India, he said an economic slowdown in China will
definitely impact India.
Ambuja Cements topped the buying list on Nifty, up over 4 percent
after Nomura upgraded the stock to buy with target price of Rs 253
per share. It believes cement demand growth in non-south regions is
likely to be strong.
Read More - Nifty tips
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