According to Magnum, Indian market would open buoyant today and Nifty is likely to trade between 7670 and 7500 with positive biasness.
Indian market surged to a record high on Friday as blue-chips including oil and gas companies rose on continued optimism about policy reforms by the new government. The Sensex gained as much as 1.6 percent to hit an alltime high of 25,419.14. The index closed 1.51 percent higher at 25,396.46, posting a 4.9 percent gain for the week. The broader Nifty surged as much as 1.59 percent to a record high of 7,592.70. The index closed 1.46 percent higher at 7,583.40, marking a 4.9 percent rise for the week.
Upstream oil and gas companies led the rally on expectation that the new business friendly government of Prime Minister Narendra Modi would usher in substantial reforms. Shares of Oil and Natural Gas Corp gained as much as 12.1 percent to an all-time high of 469.85 rupees. The stock closed 11.1 percent higher at 465.65 rupees, adding to the 1.9 percent gain on Thursday, amid continued hopes about reforms in the sector. Shares in other oil and gas companies also gained with the BSE's oil and gas index closing 4.82 percent higher.
Local shares were also underpinned by foreign fund inflows into equity markets for the fifth straight session on Thursday.
US stocks closed at all-time highs on Friday for a third week of gains after the May jobs report showed slow but steady improvement in the labor market. Asian stocks kicked off the week with gains following positive data releases from the region's two biggest economies and a strong US lead.
Global cues are upbeat today with them SGX Nifty is showing 42 points up move in morning trade indicating that Indian market would open buoyant today and Nifty is likely to trade between 7670 and 7500 with positive biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Anda sedang membaca artikel tentang
Nifty to trade between 7670-7500: Magnum
Dengan url
https://segarsaries.blogspot.com/2014/06/nifty-to-trade-between-7670-7500-magnum.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Nifty to trade between 7670-7500: Magnum
namun jangan lupa untuk meletakkan link
Nifty to trade between 7670-7500: Magnum
sebagai sumbernya
0 komentar:
Posting Komentar