Thursday, 8 October 2015

Nifty ends near 8200; IT slips 2%, Hindalco surges 9%

Bulls maintained winning streak on Dalal Street as the market rose for the sixth straight session. The Sensex ended up 102.97 points or 0.4 percent at 27035.85. The Nifty was up 24.50 points or 0.3 percent at 8177.40. About 1660 shares advanced, 1081 shares declined and 114 shares were unchanged. Nilesh Shah, Managing Director of Kotak Mahindra Mutual Fund feels that earlier the market had run ahead of fundamentals but now valuations overall are reasonable. According to him resumption of foreign institutional investor flows (FIIs) along with continuation domestic institutional investor (DII) flows together could likely be the next big trigger for the market. Moreover, the consumption recovery and optical recovery in terms of year on year gains will support market in the medium-term.

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