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Markets take U-turn on hopes of localized Israel-Hamas war
Mint Mumbai
|October 11, 2023
Indian stock markets took cues from global stock markets to recoup all their losses of the previous day, as hopes of the Israel-Hamas war remaining confined to the Gaza strip caused a softening in crude prices, which was reinforced by Israel’s TA 35 Index trading up 0.9% at 1745 at the time of writing.
Dovish comments by a senior Federal Reserve official also boosted sentiment. While FIIs remained sellers of a provisional ₹1,005.49 crore, DIIs purchased shares worth ₹1,963 crore.
The Nifty gained nine-tenths of a percent, the most in over a month, to close at 19,689.85, while the Sensex posted the highest gain in over three months, rising 0.87% to 66,079.36 on Tuesday.
The broader market outperformed with the Nifty Midcap 150 and the Nifty Smallcap 250 indices rising over a percent each.
Nifty Realty was at a multi-year high of 606.2.
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