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Stocks soar on poll cheer, but earnings cloud stays
Hindustan Times
|November 26, 2024
Good harvest, govt spending may lift demand, but earnings cuts seen rising
Markets raised a toast to the thumping Maharashtra mandate, lifting stocks for a second straight day as bargain hunters returned.
Benchmark indices extended Friday's gains to Monday, with the Nifty clocking the biggest two-day rise since early June. However, market experts are unsure if the gains will sustain or prove to be fleeting.
After tumbling 11% from its 1 October record, the Nifty has in two sessions recouped nearly 4% from its recent low on November 21.
The recovery was led by a surge in stocks like Power Grid Corp. of India, Larsen & Toubro, Tata Consultancy Services, UltraTech Cement, and Apollo Hospitals Enterprise.
This story is from the November 26, 2024 edition of Hindustan Times.
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