Will stock-specific trading continue to drive market gains?
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Mumbai: India's equity indices eked out gains on Friday after early losses as the optimism around the Reserve Bank of India's dovish policy stance fizzled out and trading turned stock-specific. The NSE Nifty closed at 24,894.25, up 0.2% or 57.95 points, while the BSE Sensex ended 0.3% higher at 81,207.17, a gain of 223.86 points. "Although the market advanced in the last two sessions, it is expected to be a pullback move rather than a reversal," said Bhavik Joshi, Business Head at INVasset PMS. "Stock-specific rallies are becoming common in the current set up as investors chase momentum while the indices remain flat." Both indices gained nearly 1% in this truncated trading week after declining 2.7% last week. Financial markets were shut for trading on Thursday for Mahatma Gandhi Jayanti and Dussehra. Agencies Elsewhere in Asia, South Korea gained 2.7% on Friday, while Japan and Taiwan rose 1.9% and 1.5% respec...