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Sensex surges 400 pts; ONGC soars 6%, Infosys Axis lead

ONGC topped the buying list on Sensex, up nearly 6 percent followed by Infosys, Axis Bank, SBI, NTPC, Bajaj Auto, Cipla, BHEL, Vedanta, GAIL, Hindalco and Tata Steel with 2-4 percent upside.

10:00

TheNewsInternational Team

10:15 am Market Expert:

Sanjeev Prasad, Kotak Institutional Equities said they at brokerage found valuations of the Indian market more reasonable post the recent sharp correction. Lower valuations and weaker rupee post the recent market selloff can provide for meaningful returns of 15-18 percent over the next 12 months, he believes.

He said the brokerage sees increasing likelihood of a rate cut at the next policy meeting.

10:00 am Market Check

Equity benchmarks maintained uptrend for the second consecutive session. The Sensex rallied 399.57 points or 1.52 percent to 26630.76 and the Nifty climbed 126.35 points or 1.59 percent to 8075.30.

The broader markets marginally outperformed benchmarks. The BSE Midcap and Smallcap indices gained over 1.5 percent. Nearly five shares advanced for every share declining on the Bombay Stock Exchange.

ONGC topped the buying list on Sensex, up nearly 6 percent followed by Infosys, Axis Bank, SBI, NTPC, Bajaj Auto, Cipla, BHEL, Vedanta, GAIL, Hindalco and Tata Steel with 2-4 percent upside.

09:15

Nifty starts Sept series above 8050, Sensex up over 300 pts

ONGC, Hindalco, Maruti, M&M and Cipla are top gainers in the Sensex.

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