29 May 2024
Indian Stocks Bounce Back, Breaking a Six-Day Slump

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Indian Stocks Rebound After Six-Day Slide; Sensex and Nifty Rally Amid Global Economic Growth

Indian Stocks Rebound After Six-Day Slide; Sensex and Nifty Rally Amid Global Economic Growth

Following a six-day losing streak, Indian indices bounced back on Friday, mirroring positive trends in Asia and Europe. The market responded to the US reporting a robust 4.9% economic growth in the third quarter, defying recession concerns.

At the close, the Sensex surged by 634.65 points (1.0%) to 63,782.80, while the Nifty climbed 190.00 points (1.0%) to 19,047.30. Axis Bank (AXISBANK) led the gainers with a 3% increase, trailed by HCL Technologies (HCLTECH) and Coal India (COALINDIA). Conversely, Dr. Reddy’s Laboratories (DRREDDY), UPL (UPL), and SBI Life Insurance (SBILIFE) experienced losses.

In corporate developments, Antara Senior Care, a subsidiary of Max India (MAXIND), expanded its services to Bengaluru, venturing into the southern region of India. Additionally, Optiemus Infracom (OPTIEMUS) entered the unmanned aerial vehicles business by establishing Optiemus Unmanned Systems.

Originally Sourced from: MT Newswire

Image Sourced from Pexel.com

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