Sensex rallies 250 points, Nifty near 10,700 at close, Axis Bank rises 9%

Equity benchmark BSE Sensex rallied over 250 points to close only 30 points short of the 35,000 mark on Friday, amid positive global cues and strong corporate earnings announced this week. At close, the 30-share strong gauge was256.10 points or 0.74% higher at 34,969.70. The broader NSE Nifty 50 too rose 74.50 points or 0.70% to end at 10,692.30. Gains in the Sensex pack were led by Axis Bank, SBI, ICICI Bank, Reliance Industries, Maruti Suzuki and Yes Bank, rising as much as 8.97%. Axis Bank shares had fallen 3%…

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Wall Street rises with oil; investors shrug off Italian referendum

Financial shares and strong oil prices bolstered U.S. stocks on Monday while currency and bond investors shrugged off Italian Prime Minister Matteo Renzi’s resignation, following voters’ rejection of his constitutional reforms. The Italian referendum stoked worries about Italy’s political stability and its banking system, but U.S. Treasury yields reversed their fall as the initial demand for low-risk U.S. government debt faded with a euro and stock price revival. “The initial reaction was quite negative, but as we have seen recently with other political events, risks will likely be played out…

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FTSE rises, gets post-Yellen boost from miners

Britain’s top share index rose on Wednesday, boosted by its heavily weighted mining sector after Federal Reserve Chair Janet Yellen urged caution in raising rates, lifting riskier assets. Miners .FTNMX1770 were up 5.5 percent, rising off a 1 month low hit in the previous session. The sector had fallen 15.8 percent since hitting 4-1/2 month highs earlier in March, pressured by a rising dollar. However, it bounced following Yellen’s comments that the U.S. central bank should proceed only cautiously as it looks to raise interest rates. That hit the dollar,…

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