Snapping two weeks of cumulative losses, Indian stock indices regained some of their lost ground. Benchmark Sensex and Nifty were 0.5 per cent higher each at the time of the closing bell Friday.
Kotak Securities is bullish on a few select large-cap and BFSI sector stocks and advised investors to add quality stocks to their portfolio at a time when the broader market valuations are relatively rich.
Indian stock indices carried on with their gains from the past session, in line with the global stocks, after the US central bank's less hawkish stance on the monetary policy front.
The Sensex surged 533.44 points, ending the day at 64,124.77. The Nifty, on the other hand, gained 156.80 points to close at 19,145.95. Among the Nifty companies, 42 advanced while 8 declined.
In a stock filing, the Indian bank said both parties entered into definitive agreements for the transaction whereby Zurich will invest approximately Rs 4,051 crore to acquire the stake through a combination of fresh growth capital and share purchase.
The Sensex surged by an impressive 564.08 points, opening at 64,164.31, while the Nifty experienced an uplifting start with a gain of 168.30 points, opening at 19,157.45.
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The Sensex opened 141.00 points down, commencing the day at 63,809.35. Similarly, the Nifty started with a decline of 13.40 points, opening at 19,070.30. Within the Nifty index, there were 37 advances, 12 declines, and 1 remained unchanged, depicting a mixed start to the day.
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The stock market witnessed a bearish trend as it closed in the red on Tuesday, with both the benchmark indices, Sensex and Nifty, ending the day in negative territory.