New Delhi, Nov 15 (IANS) Following strong domestic as well as global cues, Nifty50 commenced the day on a firm note and gradually compounded its gains to settle at 19,675.45, advanced by 231.90 points, says Aditya Gaggar, Director of Progressive Shares.
All the sectors ended the day in green with Realty, IT, and Auto being the outperformers. A mixed trend was seen in the broader markets where Smallcap outperformed while Midcap marginally underperformed, he said.
The next critical hurdle for the Index stands at 19,840 while the downside is protected at a strong support zone of 19,550-19,580, he said.
Vinod Nair, Head of Research at Geojit Financial Services said the market's strong gap-up jump in response to positive global cues on account of the softer than anticipated US and UK's inflation data, highlights the optimism for an end to the interest rate cycle, as evidenced by the ease in bond yields.
This is likely to draw FII flows into emerging markets, which is good for India considering the current better earnings season and the festive demand pick-up. The drop in the CPI for India also improved the mood. The rebound was broad based with IT, realty, oil & gas, metal, and auto leading the way, he said.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.