Sensex reclaims 25,000 on Yellen's statement; Nifty above 7,650
The S&P BSE Sensex was trading at 25,088, up
by 188 points while the Nifty was qouting at 7,655, up 58 points. Broader
markets are outperforming the benchmark indices- BSE MIDcap and Smallcap
indices are up 0.8%-1%."Nifty has to continue to hold the immediate
support of 7,580 zones to get a bounce back move towards 7,660 then 7,720 levels.
On the downside if it fails to hold 7,550 zone then only the momentum may
fizzle out and index may drag down towards 7,500 then 7,480 zones. Market now
requires a follow up buying and shifting of base to higher levels to continue
its upswing led by support based buying in next coming sessions" adds
Anand Rathi's morning report.
Meanwhile, volatility is likely to be witnessed today on account of March series futures and options contracts expiry.Further, participants are patiently waiting for the Reserve Bank of India (RBI) monetary policy review due on April 5 amid hopes of a 25 basis points cut in interest rates.Foreign portfolio investors (FPIs) bought shares worth a net Rs 513 crore yesterday as per provisional data released by the stock exchanges.Besides, the government permitted 100% FDI in the market place format of e-commerce retailing with a view to attract more foreign investments.Among overseas markets, Asian shares rallied on Wednesday as markets scaled back expectations for how fast and how far US interest rates might rise this year, bruising the dollar and boosting sovereign bonds.
Meanwhile, volatility is likely to be witnessed today on account of March series futures and options contracts expiry.Further, participants are patiently waiting for the Reserve Bank of India (RBI) monetary policy review due on April 5 amid hopes of a 25 basis points cut in interest rates.Foreign portfolio investors (FPIs) bought shares worth a net Rs 513 crore yesterday as per provisional data released by the stock exchanges.Besides, the government permitted 100% FDI in the market place format of e-commerce retailing with a view to attract more foreign investments.Among overseas markets, Asian shares rallied on Wednesday as markets scaled back expectations for how fast and how far US interest rates might rise this year, bruising the dollar and boosting sovereign bonds.
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