Market gets a 259-pt lift as economy shows traction
June 30, 2016 17:51
Stocks today wiped off their Brexit losses suffered last week by soaring over 259 points, in line with a global rally, on improving prospects of the economy to close just below the 27,000-mark. This is the strongest quarterly show of the market in two years since Prime Minister Narendra Modi's historic election win in 2014. The broader NSE Nifty scaled the 8,300 mark for the first time this year.
Of late, the government has taken a clutch of steps to turn around the economy as it relaxed FDI rules, cleared pay hike for its employees and approved a new mineral exploration policy and model law on shops and establishments. All this cheered investors, dealers said.
Of late, the government has taken a clutch of steps to turn around the economy as it relaxed FDI rules, cleared pay hike for its employees and approved a new mineral exploration policy and model law on shops and establishments. All this cheered investors, dealers said.
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