InvestorQ : What explains the sharp rally in the Nifty on Friday 29 May from lower levels?
Mary Joseph made post

What explains the sharp rally in the Nifty on Friday 29 May from lower levels?

Answer
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sara Kunju answered.
5 months ago


The markets opened weak on 29 May 2020 on the back of global cues. However, the Sensex rallied nearly 600 points from lower levels and the rally was largely led by buying in FMCG, pharma and auto counters. The Sensex has rallied nearly 2000 points in just the last 3 trading sessions. In the index, the major gainer was ONGC with gains of 5.5% while Infosys was the big loser down 2%. The Nifty Fifty had an impressive A/D ratio of 36:14. The broader market also participated with the mid cap and the small cap indices rallying. Vodafone was the big gainer on Google stake news.