Nifty Likely to Open Up in Early Trade, Test New Highs

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Nifty Likely to Open Up in Early Trade, Test New Highs
Credit: © Reuters.

By Aditya Raghunath -- Nifty 50 Futures  in Singapore are trading up 0.8% indicating a green opening for the Nifty 50 and BSE Sensex 30 . Both indices closed at record highs yesterday and all early cues point to them testing new highs in early trade today.

Market experts say that Nifty has the potential to hit 17,800 in the next few sessions. Telecom stocks could see a continued rally after yesterday’s news when the government announced a relief package for the sector. The Union Cabinet approved a four-year moratorium for the payment of AGR (annual gross revenue) dues to the government.

Foreign institutional investors (FIIs) have been bet buyers this week. On September 15, they were net buyers to the tune of Rs 232.84 crore. They have net bought Rs 3,971.63 crore worth of Indian equities in September so far.

Asian markets are trading weak as of this report. Nikkei 225 is down 0.62% while KOSPI 50 is down 0.66%. The Shanghai Composite is trading up 0.23%.

Us futures are relatively flat as of this report. Dow Jones 30 Futures are down less than 0.1% while S&P 500 Futures and Nasdaq 100 Futures are down less than 0.1% each. Sentiment in the US markets is subdued as the economic recovery continues to be slow.

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  • Tarang Shah @Tarang Shah
    ye ulta hi likhta hai.. SGX dekh pahele baad me kuch bhi likh
    Like 0
  • Rajneesh Rayal @Rajneesh Rayal
    Dude sgx nifty is not 0.8% up, it is flat to its last close of 17519. Flat opening but market may go up due to telecom news.
    Like 0

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