Stock markets jump to a five week high

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In a strong rally the benchmark stock index, the Sensex jumped 548 points in today’s session. The Nifty 50 Index topped 10900 level marking five week of gains. Today’s rally was led by infrastructure, energy and banking stocks.

Energy stocks like ONGC, BPCL, GAIL and Reliance Industries were among the top 10 gainers today. Technology majors Infosys, Wipro, TCS and HCL Tech came in for profit taking.

Investors have focused on strong earnings posted by companies like Infosys, Britannia and HCL Tech for the April to June 2020 quarter. This was the time that a strict lockdown was imposed in the country. Most market watchers are expecting subdued first quarter earnings by Indian companies.

Analyst feel that abundant global liquidity will provide support to the stock markets.

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