BSE Sensex, NSE Nifty keep gains streak going into 5th day, SBI, HDFC shares jump

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Continued foreign investor buying lifted some recently under-performing blue chips such as State Bank of India, though others were hit by profit-taking. Reuters Continued foreign investor buying lifted some recently under-performing blue chips such as State Bank of India, though others were hit by profit-taking. Reuters
SummaryYet another day of gains was witnessed by Indian stock markets on Wednesday.

added the stock to its "conviction buy list," citing valuations and growth potential among other factors.

Shares in companies owned by foreign promoters also rallied for a second day after the central bank said on Friday it would allow non-residents to buy stocks of listed domestic firms through the foreign direct investment route.

ABB India Ltd rose 3.2 percent, adding to Tuesday's 17.43 percent gain, while Siemens Ltd gained 8 percent, totalling a gain of 16.3 percent in two days.

However, Tata Motors Ltd declined 2.5 percent as a near-10 percent rise on Tuesday was seen as overdone.

Tata Motors said later that global wholesale vehicle sales fell by 16 percent in August, hit by a drop in passenger vehicle sales at India's largest automaker by revenue.

Cairn India Ltd fell 2.6 percent as Brent crude futures declined more than 4 percent in the previous two days as fears of an imminent strike against Syria eased.

($1 = 63.9575 Indian rupees)

Sensex Sept 11

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