Posts
MTECHTIPS:-Technical Snapshot:
The Nifty futures opened positive on Monday and maintained the uptrend throughout the trading session. The markets closed on a positive note on a day witnessing strong buying interest across the sectors. After showing signs of consolidation in last session, the key indices regained their vitality on Monday. The markets remained in
fine fettle through the session, though some profit booking at high levels was seen in early afternoon trades post oil minister’s comments that no date has been fixed yet for the EGoM to meet on deciding over diesel and LPG price hike. However, the markets soon rebounded tracking the rally in European markets and kept gathering from strength to strength to eventually snap the session around the high point of the day.Leads from the domestic money market too were buttressing as the rupee extended its streak of appreciation for third straight session and strengthened to 55.18 against a dollar. While a report from rating agency Moody’s that rupee downslide won't hurt India's debt profile and will have only a limited impact on nation’s sovereign ratings, too did its bit in allaying investors’ concerns. On the sectoral front, investors were seen piling positions in the rate sensitive Bankex counter which surged around two and half a percent being the top gainer in the space. The Power and Capital Goods pockets too traded with notable gains of around two percent, helping the frontline indices rally.
The Nifty futures opened positive on Monday and maintained the uptrend throughout the trading session. The markets closed on a positive note on a day witnessing strong buying interest across the sectors. After showing signs of consolidation in last session, the key indices regained their vitality on Monday. The markets remained in
fine fettle through the session, though some profit booking at high levels was seen in early afternoon trades post oil minister’s comments that no date has been fixed yet for the EGoM to meet on deciding over diesel and LPG price hike. However, the markets soon rebounded tracking the rally in European markets and kept gathering from strength to strength to eventually snap the session around the high point of the day.Leads from the domestic money market too were buttressing as the rupee extended its streak of appreciation for third straight session and strengthened to 55.18 against a dollar. While a report from rating agency Moody’s that rupee downslide won't hurt India's debt profile and will have only a limited impact on nation’s sovereign ratings, too did its bit in allaying investors’ concerns. On the sectoral front, investors were seen piling positions in the rate sensitive Bankex counter which surged around two and half a percent being the top gainer in the space. The Power and Capital Goods pockets too traded with notable gains of around two percent, helping the frontline indices rally.
No comments:
Post a Comment