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MTECHTIPS:-Technical Snapshot:
The Nifty futures have showcased a boisterous feat of registering biggest intra-day gains since January 3, 2012. It was one of those days when bulls went on rampage and the Sensex snapped the enthralling session with over a 434 points rally in an euphoric atmosphere after bottom fishing in fundamentally strong shares
gathered greater force.Market participants remained in cheerful mood hoping that the Reserve Bank of India and the central government would announce aggressive policy measures to reinvigorate the deteriorating economic growth. The rate sensitive Automobile counter witnessed relentless buying in the session as it jumped close to four percent and remained the top gainer in the sectoral space on increasing hopes of monetary easing by RBI in its forthcoming mid-quarter policy review on June 18. Other rate sensitive sectors like Banking and Realty too settled with handsome gains of over two and half a percent. While the defensive FMCG counter too spurted close to three percent as investors hoped just about timely arrival of annual monsoon rains in India would brighten the prospects of higher farm output. Investors also drew some solace from the supportive cues from money markets where Indian rupee appreciated against the US dollar.
The Nifty futures have showcased a boisterous feat of registering biggest intra-day gains since January 3, 2012. It was one of those days when bulls went on rampage and the Sensex snapped the enthralling session with over a 434 points rally in an euphoric atmosphere after bottom fishing in fundamentally strong shares
gathered greater force.Market participants remained in cheerful mood hoping that the Reserve Bank of India and the central government would announce aggressive policy measures to reinvigorate the deteriorating economic growth. The rate sensitive Automobile counter witnessed relentless buying in the session as it jumped close to four percent and remained the top gainer in the sectoral space on increasing hopes of monetary easing by RBI in its forthcoming mid-quarter policy review on June 18. Other rate sensitive sectors like Banking and Realty too settled with handsome gains of over two and half a percent. While the defensive FMCG counter too spurted close to three percent as investors hoped just about timely arrival of annual monsoon rains in India would brighten the prospects of higher farm output. Investors also drew some solace from the supportive cues from money markets where Indian rupee appreciated against the US dollar.
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