Benchmarks extend winning streak to third day on FII buying, easing geopolitical tensions
Mumbai, June 16 -- The benchmark indices extended gains for a third consecutive session on Tuesday, supported by easing crude oil prices, positive global cues and a return of foreign institutional investor (FII) buying. Sentiment improved after the US and Iran reached an agreement to reopen the Strait of Hormuz, easing concerns over global energy supplies and pushing Brent crude below $83 per barrel. FIIs turned net buyers after 13 straight sessions of selling, while a stronger rupee and a decline in India VIX further boosted risk appetite. The Nifty touched the 24,000 mark in late trade but pared some gains before the close, ending comfortably above the 23,950 mark. Gains were supported by IT stocks. However, metals, healthcare and pharm...
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