Equity benchmarks managed to eke out modest gains amid consolidation on Friday, supported by technology stocks and positive global cues. Investors awaited December industrial output data due later today and corporate earnings. For second consecutive session, the 50-share NSE Nifty surpassed 8800-mark in early trade but failed to sustain that level.
The index closed at 8793.55, up 15.15 points from its previous close while the 30-share BSE was up 4.55 points at 28334.25. Current consolidation phase indicated that the market seems to have priced in current earnings season that, so far, has been good. Even it appeared that the worst effects of Demonetisation were over, experts say. Jayant Manglik of Religare Securities feels this consolidated phase will soon be over and
Nifty will march toward its record high. "So, use any decline in index to create fresh longs rather taking any contrarian trade. Amidst all, there will be no shortage of opportunities on stock specific front," he says. UR Bhat of Dalton Capital, however, says only US President Donald Trump's policies pose a huge risk for the market.
For more - http://www.tradebizzindia.com/freetrial
The index closed at 8793.55, up 15.15 points from its previous close while the 30-share BSE was up 4.55 points at 28334.25. Current consolidation phase indicated that the market seems to have priced in current earnings season that, so far, has been good. Even it appeared that the worst effects of Demonetisation were over, experts say. Jayant Manglik of Religare Securities feels this consolidated phase will soon be over and
Nifty will march toward its record high. "So, use any decline in index to create fresh longs rather taking any contrarian trade. Amidst all, there will be no shortage of opportunities on stock specific front," he says. UR Bhat of Dalton Capital, however, says only US President Donald Trump's policies pose a huge risk for the market.
For more - http://www.tradebizzindia.com/freetrial
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