11-day gains spree of Sensex longest streak since Oct 2007
While Sensex climbed 320 points to close at 67,838, Nifty also scaled fresh life highs on Friday, rising for the third consecutive session to close at 20,192, up 89.3 points.
BSE Sensex crosses 67K mark as PSU stocks rally
Sensex was up 417 points at 67,016 points. Powergrid led the Sensex gains up by more than 2 per cent.
Sustained buying by domestic funds taking market higher
In September, so far, FIIs have sold in the cash market for Rs 8,608 crore and DIIs have bought for Rs 5,715 crore. In spite of this net institutional selling Nifty is up by 434 points for the month so far. This, and the hyperactivity in the mid-and small-cap segments, point to the active participation of retail investors in the rally, he said.
Will markets continue to rally
BSEMIDCAP gained 2.34 per cent while BSESMALLCAP was up a staggering 3.78 per cent. Markets gained on three of the five trading sessions and lost on one session while they were flat on the 5th session. The only day of loss was on Thursday when August futures expired.
Poor monsoon becoming major worry for Indian markets
The declining bond yields in the US has turned the global market construct favourable for equities. But this is unlikely to create a highly favourable environment in the Indian market since the poor monsoon is becoming a major worry, he said.
Sensex up more than 100 points in morning trade
Among the top Sensex gainers are Jio Financial, Tech Mahindra, Powergird and JSW Steel up over 1 per cent in trade. Bharti Airtel is down by more than 1 per cent.
Expiry week could lead to some selling pressure
Markets gained on two of the five trading sessions, lost on two and remained flat on the fifth, showing how even-stevens things were. BSESENSEX lost 62.15 points or 0.10 per cent to close at 64,886.51 points while NIFTY lost 44.35 points or 0.23 per cent to close at 19,265.80 points.
Sensex falls below 65K mark
Nifty is down 3 per cent from the July peak of 19979, moving in sympathy with the global cues, says V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services.
Indian markets face strong headwinds
Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said. Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore. Domestically, the major headwind is the rising inflation, V.K. Vijayakumar said.
Market construct turns negative with spike in dollar index
The Bank Nifty has been a pressure point for the markets during the last several trading days. The RBI decision to raise the CRR of banks to neutralise the excess liquidity created by the withdrawal of Rs 2000 notes has added to the negative sentiments in the banking sector, he said.