3 Reasons Why Nifty and BSE Sensex Might Continue to Move Higher

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3 Reasons Why Nifty and BSE Sensex Might Continue to Move Higher

By Aditya Raghunath

Investing.com -- Nifty and the BSE Sensex might continue their momentum and open in the green today, after an increase of over 0.9% yesterday on RBI’s dovish monetary policy.

  • Nifty 50 Futures are trading up 0.33% at the time of this report, indicating a gap-up opening for Indian markets.
  • The US Fed, like most central banks in the world, has decided to continue with its easy money policy which led to the Dow Jones Industrial Average and S&P 500 closing flat yesterday while Nasdaq ended slightly lower. US futures are all trading up with Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures up 0.14%, 0.36% and 0.57% respectively. The Fed said that it will continue with this stance until it is sure that the economy is on the road to recovery.
  • Asia is following the US and is treading cautiously with Nikkei 225 (down 0.38%) and Shanghai Composite (down 0.013%) in the red while KOSPI 50 is trading flat.
  • In India, RBI has directed all lenders to refund or adjust the compound interest or interest-on-interest on loans that borrowers paused during the moratorium period of March-August 2020. This will come as a blow to lenders who say that they haven’t received the reimbursement for the first round of the interest lockdown

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