India's Nifty breaches 20,000, analysts see fresh momentum

Aster DM Quality Care

29/11/2023 08:09

** India's blue-chip indexes Nifty 50  .NSEI  and Sensex
 .BSESN  gain about 0.75% each, rising to highest in over two
months 
    ** Nifty up above 20,000 for first time since Sept. 20
    ** "Nifty's recent crossing of the psychological level of
20,000 and the BSE market cap's ascent to $4 trln mark signal
the start of a fresh momentum," says Santosh Meena, head of
research at Swastika Investmart
    ** View remains positive till Nifty breaches 19,700 on
downside - Reliance Securities
    ** Nifty IT  .NIFTYIT  up 1.4%, autos  .NIFTYAUTO  up 1.2%,
boosted by Hero MotoCorp  HROM.NS  as management hints at rural
demand recovery
    ** Banks  .NSEBANK  and oil & gas  .NIFOILGAS  up about 1%
each
    ** Zomato  ZOMT.NS  gains 4% on block deals as China's
Alipay likely exits; Aster DM Healthcare  ATRD.NS  surges 13% on
planned stake sale in Gulf business
    ** Renewables lender IREDA  INAR.NS  surges 86% over issue
price on debut day, hitting over $1.8 bln valuation

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
India's Nifty reclaims 20,000 mark for first time after Sept. 20
   https://tmsnrt.rs/3SXvwAU
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))