The Indian stock market saw a strong rally across sectors, with various Nifty indices recording significant gains. These are the major highlights:
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Nifty Auto Index: The Nifty Auto index increased by 2%, led by upbeat sentiment due to recent auto sales updates and strategic corporate moves. This increase indicates the sector's strength in the face of overall market volatility.
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Nifty Metal Index: Following a recent dip, the Nifty Metal index staged a 3.1% comeback. This regain is a relief after the index had touched a 52-week low recently following a fall in metal prices based on protectionist measures and global market volatility.
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Nifty Midcap 100: The Nifty Midcap 100 index rose 2.5%, as investors continued their interest in mid-cap companies that have growth prospects. This increase is sustained by the diverse base of the constituents of the index across sectors.
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Nifty IT Index: The Nifty IT index also appreciated by 2%, driven by continued demand for IT services and the sector's resilience against challenges in the global economy.
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Nifty Realty Index: The Nifty Realty index increased by 2.5% due to recent gains in real estate stocks. This is in line with the performance of the index over the last month.
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Nifty Smallcap 100: Following a steep drop earlier in the week, the Nifty Smallcap 100 index recovered with a 2.2% increase. This indicates investors are cautiously re-entering small-cap stocks amid underlying market volatility.
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Nifty 50 Index: The benchmark index Nifty 50 continued to rise, appreciating by 1.6%. This overall rally suggests rising market sentiment among major sectors.
Source: Business Standard, Angel One, Economic Times.