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Taking Stock: Market rises for 3rd day in a row on positive global cues

Indian equity benchmarks logged strong gains on December 13 buoyed by positive global sentiment as hopes of an orderly Brexit grew stronger after a landslide election victory for British Prime Minister Boris Johnson. Positive signals due to the US-China trade deal also influenced the mood. Sensex settled 428 points, or 1.05 percent, higher at 41,009.71 while Nifty closed the day with a gain of 115 points, or 0.96 percent, at 12,086.70. Midcaps and Smallcaps, too, witnessed decent gains but underperformed the benchmark Sensex. BSE Midcap closed 0.92 percent up and the Smallcap index settled 0.82 percent up. “Many positive triggers came together today to keep the market up. Possible development around the US-China trade deal, UK election results, likely inflows from Essar Steel case and a strong uptick in global indices were among the factors that boosted the sentiment,” said Rusmik Oza, Senior VP & Head of Fundamental Research at Kotak Securities. As many as 24 stocks ended in the green in the 30-share pack Sensex. Axis Bank, Vedanta, State Bank of India, Maruti Suzuki and IndusInd Bank emerged as the top gainers in the Sensex index. On the other hand, Bharti Airtel, Kotak Mahindra Bank, Bajaj Auto, Asian Paints, HDFC Bank and Hindustan Unilever ended as the losers in the Sensex kitty. For the week, both Sensex and Nifty climbed 1.4 percent. Top Nifty gainers – Axis Bank, Vedanta and Hindalco Industries Top Nifty losers – Dr. Reddy’s Laboratories, Bharti Airtel and Zee Entertainment Enterprises Stocks and sectors

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