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Indian stock markets rise on improvement in global sentiment

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The resolution of the US debt ceiling has changed global sentiment and boosted investor confidence. Due to this, there was an increase in the Indian stock market on the first day of the week. On Monday, the BSE Sensex closed up 345 points at 62846.38. Similarly, the NSE Nifty closed at 18598.70, up 99 points. Bank Nifty touched a record high during the day today. Buying was seen in Auto, Metal and Real Estate indices.

According to market experts, the talk of increasing the credit limit has been positive. After which the limit of borrowing has been removed for 2 years. This has brought great relief to the global equity and debt markets. In such a situation, the morale of global investors will increase and its effect is visible on the market. However, going forward, the market will revert to inflation, interest rates and other fundamentals.

In today’s market, sector-wise buying was seen in sectors including automobile, metal, information technology, oil and gas. With this, Bank Nifty reached its historic high during the day. The companies in which Mahindra & Mahindra, Titan, Tata Steel, Coal were being taken over in India.