Benchmark Nifty saw a huge bullish rally after a long weekend, breaching the levels of 8900 since the 2016 Union Budget, on the back of strong global cues, as there was a decline seen in US employment data (Non Farm Payroll) which eventually has decreased the chances of possible interest rate hike by the end of this year. Nifty closed the session today at 8943 i.e. 133 points higher. Tata Motors Axis Bank, Yes Bank, ICICI Bank was the top gainer of the day while Coal India, TCS, Tata Power and Wipro were the top losers of the day.
Global Markets Update:
- European stocks surged on Tuesday, as downfall seen in oil prices has boosted energy-related stocks, also building of strength has been observed after downbeat US employment data, diminishing the possibility of interest rate hike in December 2016.
- German Pharma giant Bayer AG has increased its bid to take over Monsanto, the world’s largest seed the company with over USD 65 billion. Monsanto stock surged more than 4 percent.
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