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Robust indicators and strong global cues lift benchmark indices

All eyes now on US Fed meet this week, say analysts

Analysts further said that the sharp decline in market capitalisation in China in general and technology stocks had dragged EMs’ YTD performance into negative territory, while developed markets’ performance was fairly strong.

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Global markets, too, gained as robust earnings offset concerns about inflation and supply-side woes as a result of the pandemic

Sundar Sethuraman Mumbai

3 min read Last Updated : Nov 02 2021 | 1:38 AM IST

The benchmark indices rebounded on Monday, rising 1.4 per cent, after three consecutive days of declines buoyed by interest in IT and banking majors, optimism surrounding manufacturing data, and favourable global cues. The benchmark Sensex rose 831 points and closed at 60,138, while the Nifty rose 258 points to close at 17,946.

The indices had fallen sharply last week due to institutional selling and downgrade by some foreign brokerages citing valuation concerns. However, data on India’s manufacturing activity released on Monday brought some cheer.

The purchasing managers’ index (PMI) rose to 55.9 against 53.7 in September. This came on the back of

Topics : Indian markets benchmark indices US Fed IT stocks Banking stocks

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