Banks in India|Bank Jobs|Bank Recruitment|Banking News,Information & Articles|Banking in India|Bank Loan|Bank Employment|Bank Interest
      Recent News :
Govt & RBI Policy : :

Bulls roar on Dalal Street: 5 factors fuelling this rally

By:  GK Gupta (ET) , Place:  New Delhi ,  Update:18 Sep 2017
NEW DELHI: NSE Nifty index scaled fresh record high in early trade on Monday. The index surpassed the previous all-time high of 10,137.85 and was trading around 10,150, up 70 points against the previous close. 

The BSE Sensex was 218 points, or 0.68 per cent, up at 32,491 in the morning trade. Sharp gains on the benchmark indices surprised many, as investor community still awaits more clarity on geo-political developments in the Korean peninsula, and the outcome of the US Federal Res .. 

Going by the buzz on Dalal Street, here is a list of five factors that supported NSE Nifty index to hit fresh record high on Monday: 

Firm global cues: US stocks scaled fresh record levels on Friday with the S&P 500 surpassing 2,500 levels as telecommunications shares rose and technology bounced back after two days of declines. The Federal Reserve interest rate decision is scheduled on Wednesday, 20 September 2017. Asian peers Hang Seng and Shanghai were trading higher by over 1 per cent and 0.25 per cent in morning trade. 

Buying by DIIs: Robust buying by domestic in domestic institutional investors has so far countered selloff by foreign institutional investors in September and lend support to the domestic market. DIIs have bought shares worth Rs 5,777.05 crore in September so far, whereas FII have sold shares worth Rs 3,085 crore in the ongoing month. 
Select buying in bluechips : Buying in Larsen & Toubro, HDFC BankBSE 0.63 %, Reliance IndustriesBSE 0.41 % and ITCBSE 0.20 % pushed the indices higher.The stocks mentioned gained up to 2.5 per cent. 

Meanwhile, Tata MotorsBSE 1.83 % was trading over 2 per cent higher ahead of the launch of its compact SUV Tata Nexon on September 21. Bank of BarodaBSE 1.45 % was trading 1.80 per cent higher after e-commerce player Amazon said it has tied up with state-run lender to offer micro loans to its sellers. The loans will be offered on invite-only basis to the marketplace sellers. 

Technical take: A key resistance for the Nifty50 was at 10,144. And since the index has breached the level, it faces next resistance at 10,181. “Overall mood remains strong as long as the benchmark sustains above the critical support at 10,089. Below this, the first support is at 10044,” Inditrade said. 
Expectations of earnings recovery: Money managers believe earnings recovery will be the top factor to watch out for. The largely weak first quarter earnings have been ignored as investors expect the demand picking up in the upcoming festive season, giving a boost to earnings. “After challenges faced by companies during GST implementation, the market is hoping demand will pick up in the festival season and reflect in October-December earnings. If that gets delayed, then there is a risk to the market rally,“ said Dhiraj Sachdev , senior fund manager at HSBC Global Asset Management. 

 Related News
Govt will help strengthen the banking system, says Jaitley  (23 Sep 2017)
RBI Likely To Hold Policy Rate Till Fiscal Year-End: Kotak Institutional Equitie ..  (23 Sep 2017)
Reserve Bank of India looking into cryptocurrencies, 'not comfortable' with bitc ..  (20 Sep 2017)
RBI adds HDFC among banks too big to fail with SBI, ICICI  (19 Sep 2017)
Bulls roar on Dalal Street: 5 factors fuelling this rally  (18 Sep 2017)
 Most Popular News
Bank Jobs : Apply Date and Recruitment Test Exams in 2014-2015 (02 Aug 2015)
Bank Branch ATM Space Required by banks in India: View and Apply (07 Aug 2014)
Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India (02 Apr 2015)
Gratuity hike effective from 24.05.2010 : Gazette Notification (31 May 2010)
Clerical Cadre Common Written Exam, CWE 2011-2012 IBPS Notification: Online Appl .. (22 Aug 2011)
0 Recent Comments
0 More Comments
Your Name :
Email :
Comment :
click for new code
Security Code :
News Category