Indian benchmark equity indices closed higher on Friday, led by auto stocks after previous week’s sharp drop made valuations relatively more attractive. The Nifty 50 rose 0.27% to end at 23,813 on the day, while the BSE Sensex added 0.29% to 78,699. Both benchmarks gained about 1% each this week, after a 5% slide last…
The markets closed with gains for the third week in a row as the key indices posted gains while extending their technical rebound. The Nifty had a trending week; it trended higher most of the week. The volatility was largely absent, but the Indices stayed quite choppy on most days except the last day, where…
Domestic markets might be in no mood to slow down, despite reaching consistent record highs in recent months, as the benchmark Nifty is poised for a multi-quarter consolidation breakout, according to ICICI Direct. A note from the brokerage predicts that this breakout will lead to a significant rally over the next 6-7 quarters. Positive global…
Foreign portfolio investors (FPIs) seemed to have shrugged-off their selling trends of the last two months turning net buyers as we reach towards the end of the June series. As on June 21, they had bought Indian equities worth Rs 12,170 crore. From the position of being net sellers till last week they came a…
As exit poll results predict a hat-trick for Prime Minister Narendra Modi in Lok Sabha, the stock market looks poised for a rally on Monday as Nifty bulls are screaming ‘Abki baar 24,000 paar’. If the election result on June 4 also turns out to be in favour of Street favourite BJP, analysts see Nifty…
Since January, Nifty has been inching higher in an upward sloping parallel channel. It has reversed from the lower end of the channel while the FIIs too have made a comeback in the last trading session. The FIIs’ return might hint that there can now be some buying interest from them as well as short…