By Aditya Raghunath
Nifty broke out of its consolidation range and closed over 17,600 for the first time on September 16. Market experts say that the next target for Nifty is 17,800. Yesterday, investors ended up richer by Rs 1.1 lakh crore as the Sensex gained 417 points.
Finance Minister Nirmala Sitharaman announced that the government would guarantee Rs 30,600 crore as security receipts which will be issued by the National Asset Reconstruction Company Ltd (NARCL), or the ‘bad bank’.
Foreign institutional investors were net buyers of Indian equities on September 16 and purchased shares worth Rs 1,621.88 crore on Thursday.
Asian markets are trading mixed with Nikkei 225 up 0.53%, KOSPI 50 up less than 0.1% and the Shanghai Composite down 0.3%. Apart from the stock markets, China has also started to crackdown on financial blogs and news websites in the country.
Global markets are expected to be subdued as an unexpected rise in US monthly retail sales renewed expectations for the Federal Reserve to tighten monetary policy with just days to go until the US central bank's meeting next week.
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Soona nifty gonna touch 18k by monthly expiry.Like 0