Market rally extends as Nifty closes above 24K, Sensex gains 364 pts

The domestic share market extended the gains on second straight session on Tuesday with Nifty closing above 24,450, led by realty and financial stocks.At close, the Sensex was up 363.99 points or 0.46 percent at 80,369.03, and the Nifty was up 127.70 points or 0.52 percent at 24,466.85.
SBI, Bharat Electronics, SBI Life Insurance, HDFC Life, ICICI Bank were among the top gainers on the Nifty, while losers included Tata Motors, Dr Reddy's Labs, Maruti Suzuki, Hero MotoCorp and Bajaj Auto.On the sectoral front, bank, realty, power, capital goods were up 1-2 percent, while pharma, IT and auto down 0.5-1percent.BSE Midcap and Smallcap indices rose 0.7 percent each.
Rupee Close:
On 29 Oct'24,the Indian rupee opened on a flat note and depreciated 1 paisa to 84.08 against the U.S. dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments.Forex traders reportedly stated a muted trend in domestic equities and strong dollar weighed on the local unit, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the domestic market is trying to show some signs of a recovery from the recent lows as the Diwali festival approaches. A notable decline in crude oil prices is bolstering market sentiment, though it also indicates a potential slowdown in global demand. Currently, stock-specific action related to ongoing Q2 earnings, which is largely weak, is expected to drive the market sentiment in the near term. PSU Banks have rebounded from recent corrections, driven by positive initial earnings reports, while auto stocks declined due to disappointing results.
Market experts have recommended to buy these five shares- Kirloskar Pneumatic Co. Ltd , Sharda Cropchem Ltd, General Insurance Corporation of India , Macrotech Developers Ltd (Lodha) and Bharat Dynamics Ltd.

( Business Correspondent)