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Diwali a day early for stocks

Mumbai, Oct. 31: When Mahendra Singh Dhoni was tracing sharply rising trajectories in the air over the stadium in Jaipur, the stock market joined in the fireworks.

At the end of the day, the Bombay Stock Exchange sensitive index had scored a gain of 207 points to Dhoni’s unbeaten 183, setting expectations up for Diwali trading.

Fears of a dark Diwali were dispelled with the sensex posting the biggest one-day gain in more than a month of bearish trend.

The fireworks at Jeejeebhoy Towers, home to BSE, were sparked by the firmness in overseas markets. Besides, at current prices, many shares looked attractive.

But, after the market having lost some 1000 points in less than a month, the question if the rally would hold was not far from anyone’s mind.

Even so, considering that the sensex had ended last Diwali eve at 5954, the past year has been good for the market.

Over to the next.

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