Market status

The frontline Indian equity benchmarks are trading near their best levels for the session in the afternoon trade, spurred by sustained strength in select index heavyweights. The NSE Nifty is trading just above 5,000 while the BSE Sensex is hovering around 16,500. The gains in the Indian equities are continuation of the spurt seen in the past few sessions after a fall below 4,800 in the Nifty.

Also, the undertone is being fueled by healthy gains in other Asian markets. There is speculation that China will take steps to boost growth in the world’s second-largest economy. China’s finance ministry said that it will allocate as much as 2 billion yuan ($317 million) every year to support purchases of energy-efficient cars.
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