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MTECHTIPS:-Technical Snapshot:
The Nifty futures gave a positive opening as the index traded above the 5000 mark in early trade yesterday. The markets sustained the sanguine mood on Thursday helping the benchmark equity indices to enthusiastically rally by over four percentage points since the start of this week and quadruple the joy of closing in the positive territory.investors aggressively piled up positions in key heavyweight stocks ahead of a slew of key events in India and across the world. The spurt in benchmarks not only was due to sanguine leads from the global markets but also because of encouraging local cues like the appreciation in the beleaguered rupee and government’s reform push.Investors resorted to largely across the board buying as they hoped government would push reforms and prop up investment sentiment. Meanwhile, Prime Minister Manmohan Singh’s effort to push for infrastructure led economic recovery too spurred some positive vibes that the government is taking serious steps to dispel perceptions that it is in policy paralysis. The rate sensitive Realty and Banking counter witnessed relentless buying in the session as they jumped over two percent and remained the top gainers in the sectoral space on increasing hopes of monetary easing by RBI in its forthcoming mid-quarter policy review on June 18.The markets jumped on good volumes of over Rs 1.3 lakh crore while the turnover for NSE F&O segment also remained on the lower side as compared to that on Wednesday, at over Rs 0.9 lakh crore.
The Nifty futures gave a positive opening as the index traded above the 5000 mark in early trade yesterday. The markets sustained the sanguine mood on Thursday helping the benchmark equity indices to enthusiastically rally by over four percentage points since the start of this week and quadruple the joy of closing in the positive territory.investors aggressively piled up positions in key heavyweight stocks ahead of a slew of key events in India and across the world. The spurt in benchmarks not only was due to sanguine leads from the global markets but also because of encouraging local cues like the appreciation in the beleaguered rupee and government’s reform push.Investors resorted to largely across the board buying as they hoped government would push reforms and prop up investment sentiment. Meanwhile, Prime Minister Manmohan Singh’s effort to push for infrastructure led economic recovery too spurred some positive vibes that the government is taking serious steps to dispel perceptions that it is in policy paralysis. The rate sensitive Realty and Banking counter witnessed relentless buying in the session as they jumped over two percent and remained the top gainers in the sectoral space on increasing hopes of monetary easing by RBI in its forthcoming mid-quarter policy review on June 18.The markets jumped on good volumes of over Rs 1.3 lakh crore while the turnover for NSE F&O segment also remained on the lower side as compared to that on Wednesday, at over Rs 0.9 lakh crore.
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