Indian markets remain positive 2nd day as Sensex hits 72,508
Business
Indian stock markets stayed positive for a second day. Sensex jumped over 100 points to 72,508 and Nifty crossed the 22,600 mark.
Even midcap and smallcap stocks got a boost, each rising about 0.5%.
Trent shares surge after strong Q2
Trent's shares surged nearly 9% after strong Q2 numbers, with Kotak Mahindra Bank and Axis Bank also seeing gains.
Still, there's some caution: Foreign Institutional Investors keep selling as US bond yields stay high at 5.3%.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that cheaper crude is key for steady growth but isn't guaranteed right now.
Looking ahead, Anand James, Chief Market Strategist at Geojit Investments, sees Nifty aiming for 23,100-23,220.