Home Markets Markets rise nearly 1% as macro trends indicate swift recovery

Markets rise nearly 1% as macro trends indicate swift recovery

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Stock market benchmark indices closed nearly 1% higher on Monday as investors returned to trade after a three-day Diwali break. Improvement in macro trends have boosted expectations of a faster economic recovery in the country.

The BSE Sensex ended up 477.99 points or 0.80% at 60,545.61, while the Nifty gained 151.75 points or 0.85% to 18,068.55. “Despite a muted opening, domestic indices erased early losses, boosted by favourable macros like fuel tax cut, improved PMI numbers and higher festive season sales numbers. On the global front, the Fed policy announcement was in line with the market view to start with gradual tapering, which boosted the sentiments of emerging markets. Additionally, investors remained a bit cautious ahead of US consumer data, which is to be released later this week,” said Vinod Nair, head of research, Geojit Financial Services.

The US Federal Reserve, as widely expected,…

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