The Nifty is likely to
open flat to positive on the back of mixed global cues. It is likely to trade
in the range of 6820-6950. The trading strategy would be to create long near
6840-6845 for targets of 6875 and 6895.
The Indian rupee opened higher by 6 paise at 59.98 per dollar versus 60.04 Friday. Indian ADRs ended on a positive note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 8.7 percent and 4.7 percent respectively. Among IT ADRs, Wipro and Infosys were up by 1.6 percent and 2.1 percent respectively. Tata Motors was up by 0.4 percent.
Nifty was up by 199 points and closed at 6,859. Today we expect the markets to open on a positive note on the back of positive cues from US markets and positive outlook on Indian markets in view of the favourable outcome in the election, results of which will be announced this week.
The Indian rupee opened higher by 6 paise at 59.98 per dollar versus 60.04 Friday. Indian ADRs ended on a positive note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 8.7 percent and 4.7 percent respectively. Among IT ADRs, Wipro and Infosys were up by 1.6 percent and 2.1 percent respectively. Tata Motors was up by 0.4 percent.
Nifty was up by 199 points and closed at 6,859. Today we expect the markets to open on a positive note on the back of positive cues from US markets and positive outlook on Indian markets in view of the favourable outcome in the election, results of which will be announced this week.
Hong Kong stocks started with decent gains (the Hang
Seng Index was up 0.5% in the opening minutes) but has since slid back, with
the benchmark index now down 0.2%.
Outside the index, auto
makers BYD and Great Wall Motor are also enjoying a rebound, up 1.6% and 2.6%,
respectively.
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