An evening walk down Dalal Street | Sensex jumps 297 pts amid stable rupee and oil prices

Bulls kept the momentum going on Dalal Street for third consecutive session on Tuesday as the Sensex gained nearly 300 points and all sectoral indices ended in the green despite mixed global cues. Stable rupee and crude oil prices, and healthy start to September quarter earnings season aided the rally. Banks & financial, auto, energy, and select FMCG and technology stocks were prominent gainers, which all pushed the frontline indices to near two-week high. The 30-share BSE Sensex climbed 297.38 points to 35,162.48 and the 50-share NSE Nifty rallied 72.30 points to 10,584.80, the highest level since October 4, 2018. “Market maintained a positive momentum as healthy start to the earnings season and gaining strength in rupee supported the sentiment. Though rally was broad based, financials led from the front,” Vinod Nair, Head of Research, Geojit Financial Services told Moneycontrol. He feels earnings season will dictate the trend in the market as investors are gradually shifting their focus from global volatility to domestic triggers. The broader markets outperformed benchmark indices with the BSE Midcap rising 1.14 percent and Smallcap up 1.68 percent on positive advance:decline ratio. More than two shares gained for every share falling on the BSE. While maintaining cautious view on market, Jayant Manglik, President at Religare Broking said the movement in USD-INR and crude oil prices would be actively tracked by the investors. “Further, rising US yields are a concern to equity as an asset class and emerging economies like India. Hence, under uncertain market

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