[ad_1]
New Delhi: Domestic equity benchmarks, the Sensex and Nifty 50 ended their three-day losing streak on Wednesday, August 7, buoyed by strong global cues and a rebound in global markets.
The 30-share BSE benchmark soared by 900 points, while the NSE Nifty closed above the 24,300 mark.
The indices kicked off the day on an upbeat note, mirroring the positive trend of other Asian markets, as traders reassessed concerns over a potential US recession.
In addition, domestic real estate stocks experienced a surge following the government’s relaxation of the newly implemented property tax rules.
The broader market, encompassing the mid and small-cap indices, concluded the day with a bullish stance. Both indices climbed nearly three per cent, surpassing the day’s gains of the Nifty.
Since the beginning of the year, the broader market has comfortably outperformed the main indices. With market valuations remaining high, investors are advised to focus on large-cap investments rather than mid and small-caps. All sectors finished in positive territory, with the Nifty Metal index emerging as the top performer.
[ad_2]
