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Markets rebound sharply after 2-session loss on firm global cues; Realty, auto, FMCG stocks rally

03:56 PM Oct 07, 2021 | FPJ Web Desk

The benchmark indices closed higher on October 7. The Sensex was up 488.10 points or 0.82 percent at 59,677.83. The broader Nifty was up 144.30 points or 0.82 percent at 17,790.30. About 2096 shares have advanced, 1023 shares declined, and 119 shares are unchanged.

Nifty realty and auto indices rose 4-6 percent. BSE midcap and smallcap indices added over 1 percent each.

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Tata Motors, Titan Company, M&M, Maruti Suzuki and Eicher Motors were among the major gainers on the Nifty. ONGC, Dr Reddy's Labs, Coal India, Britannia and HDFC were among the big gainers.

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Gaurav Udani, CEO & Founder, ThincRedBlu Securities, said, "The Nifty closed positive at 17,790, up by 145 points. Since the last few trading sessions, Nifty has been facing strong resistance in 17,800-17,900 range. It is important for Nifty to close above 17,950 with higher than average volumes to resume its upward journey. Fresh long should be initiated only on closing above 17,950 or near its support range of 17,580-17,620 with strict stop loss."

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