Indian shares bounce as auto, drug stocks gain

  • Reuters
  • Stock Market News
Indian shares bounce as auto, drug stocks gain

BENGALURU, Nov 26 (Reuters) - Indian shares rose on Thursday after a sharp drop in the last session, as drug and automotive stocks advanced against a backdrop of improving economic outlook for the year ahead.

The NSE Nifty 50 index .NSEI was up 0.32% at 12,899.50 by 0400 GMT, while the S&P BSE Sensex .BSESN was 0.33% higher at 43,973.27. Both indexes had hit record highs on Wednesday before settling more than 1.5% lower.

Construction group Larsen & Toubro LART.NS and automaker Mahindra and Mahindra MAHM.NS were among the top boosts to the Nifty 50. The Nifty pharmaceuticals index .NIPHARM climbed 1% and was among the top sectoral gainers.

India's economy is expected to recover early next year from recession, but at a modest pace, according to a majority of economists in a Reuters poll who said their upgraded growth predictions were based on the progress of COVID-19 vaccines. Asian stock markets were also trading higher on vaccine optimism and prospects of more economic stimulus under the incoming Biden administration in the United States. MKTS/GLOB

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  • Rakesh Prasad @Rakesh Prasad
    Yesterday one article mentioned that Invester lost 2 lakh crore in Nifty crash and I written in comment section that “Today loss and tommorrow recover , not big deal ”. Thats exactly happened today. Moral is that up and down is part of markets. Dont make hasty decesion when market down and believe in your own strategy. Believing is everything. Believe to win.
    Like 0
  • Rakesh Prasad @Rakesh Prasad
    Yesterday one article mentioned that Invester lost 2 lakh crore in Nifty crash and I written in comment section that “Today loss and tommorrow recover , not big deal ”. Thats exactly happened today. Moral is that up and down is part of markets. Dont make hasty decesion when market down and believe in your own strategy. Believing is everything. Believe to win.
    Like 0
  • Ashok Kumar VK @Ashok Kumar VK
    fools paradise expectations
    Like 0

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