Will PSU Banks and Realty Stocks’ Rally Continue Today?

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Will PSU Banks and Realty Stocks’ Rally Continue Today?
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Expect volatility to continue in Indian markets today, just like yesterday’s trading session. Nifty Futures in Singapore are trading down 0.1% and that is generally a strong indicator that Nifty and the BSE Sensex are going to open lower today.

It is likely that cyclical sectors are going to see up-moves today while others will go down. Yesterday PSU Banks Nifty PSU Bank and realty Nifty Realty stocks went up while private banks and auto were down. Expect a similar trend to continue today. It looks like the realty sector is gaining momentum after a quiet month. Lodha Realty has filed for an IPO with SEBI (Securities and Exchange Board of India).

Asian markets have opened down with Nikkei and Kospi trading down 0.85% and 1.14% respectively at the time of this report. ASX 200 is also down 0.58%. All three indices ended up yesterday. Clearly, Asia and Australia are taking stock today.

US futures are all trading down with Dow Futures down 0.1%, and S&P 500 Futures and Nasdaq 100 Futures down 0.14% and 0.28% respectively. During regular trading hours yesterday, Dow Jones Industrial Average closed at a record high while S&P 500 and Nasdaq touched new intraday highs and then retreated.

Crude Oil WTI Futures still hasn’t reclaimed the $60 mark and is trading at $59.87 at the time of this report.

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  • Lakinder Kumar @Lakinder Kumar
    if Bank Nifty break 36700 level on down side then it may be go on 35950
    Like 1

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