Nifty reclaims 8200, Sensex strong; Europe, crude up over 1-2%

Equity benchmarks and broader markets remained strong in afternoon trade with the Nifty inching towards 8200 following positive global cues.

The Sensex rose 173.98 points or 0.66 percent to 26698.53 and the Nifty climbed 59.80 points or 0.74 percent to 8187.65.

About 1786 shares advanced against 703 declining shares on the Bombay Stock Exchange.

European stocks continued their rally today as global markets realise that any change to the status quo in the European Union (EU) after the Brexit vote is unlikely to change in the short-term. London’s FTSE index, Germany’s DAX and France’s CAC were up 1.2-1.7 percent.

Oil rose as financial traders poured money back into commodities following the initial shock of Britain’s vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply. Brent crude futures were trading at USD 49.10 per barrel, up 52 cents from their last settlement. US crude was up 58 cents at USD 48.42 a barrel.

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Posted in: Indian Market Tips