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Sensex, Nifty end at record levels; realty stocks up

Sensex, Nifty end at record levels; realty stocks up

Mumbai, Nov 7 (SocialNews.XYZ) Despite weakness in the Indian economy, the equity markets continued to hit record levels in expectation of a revival. Nifty Realty index jumped by 0.88 per cent after Finance Minister Nirmala Sithraman, announced a Rs 25,000 crore fund relief fund for distressed homebuyers.

The benchmark Sensex closed at record level while the Nifty closed above the critical 12,000 mark over improved global cues. The Sensex closed 183.96 points higher at 40,653.74 while the Nifty closed 50.05 points higher at 12,016.10.

"Reforms and earnings are the market drivers, the measures to support realty sector augers well for the sector to outperform. The proposed measure will help to start the recovery of stalled projects and can see a ripple effect in NBFCs, banks and cement sector," said Vinod Nair, Head of Research, Geojit Financial Services.

 

Besides the global markets have also gained after China and US agreed to a phased removal of tariffs that has brightened hope for a trade deal.

Source: IANS

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Sensex, Nifty end at record levels; realty stocks up

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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