DIIs were net sellers for fifth session in a row, selling shares worth Rs 392.47 crore.Some in the market remain concerned over valuation. Strong cues from global markets and rise in oil and gas stocks amid rally in crude oil prices also aided market sentiment.The Sensex rose 1 per cent to 28,152.40 and the Nifty rose 0.9 per cent to 8,672.15. But whenever the reversal happens, it will be very strong and swift," said Tushar Mahajan, head of derivatives at Nomura. "The market is being supported by global search for yield. "The momentum is fairly high given the amount of flows that we are seeing.

Source: Economic Times August 12, 2016 23:15 UTC