The stock market exchanges BSE and NSE along with will be closed for trade on September 10 on account of Muharram. Further, currency, commodity, futures markets will also be closed.
The stock market exchanges BSE and NSE along with will be closed for trade on September 10 on account of Muharram. Further, currency, commodity, futures markets will also be closed to mark the occasion. Yesterday, the stock market started off the week on a positive note, with the Sensex ending 163.68 points or 0.44 per cent, higher at 37,145.45; and the NSE Nifty reclaiming the crucial 11,000-mark. Yes Bank, Maruti Suzuki, L&T, Kotak Bank, Bharti Airtel, Bajaj Finance, SBI, ONGC, HDFC and Hero MotoCorp were among the biggest gainers in the Sensex-pack, rising up to 4.47%. Shares of HCL Tech, Infosys, TechM, Bajaj Auto and TCS were among the biggest losers, shedding up to 1.50% 0n Monday.
Taking stock of the rally, Siddhartha Khemka, Head – retail research at Motilal Oswal said that equity markets continued its positive streak for the fourth consecutive trading session today, amid positive global sentiments. “Global markets witnessed some recovery after Bank of China cut its CRR by 50bps to lowest level since 2007 and reduced trade tension. Further, expectations of a rate cut by both ECB and US Feb during the week bolstered sentiments. On the domestic front, expectation of further stimulus from the government, and good monsoon supported market,” he said.
According to technical expert Shrikant Chouhan the activity in a few sensitive sectors hints at increasing liquidity measures from the government in the near future. “For next few days 10850 would be the support level and 11150 would act as resistance. Above 11150, Nifty would enter into a medium term uptrend,” Shrikant S. Chouhan, Senior Vice-President at Kotak Securities said in a note.
Meanwhile, AMFI data released on Monday showed that equity mutual funds have posted a 12.8% on-month rise is inflows to Rs 9,152.43 crore, as compared to Rs 8,112.52 crore in July. Equity mutual funds registered their second highest level of net inflows in the last 10 months. Notably, the SIP inflows have also remained resilient to above Rs 8,200 crore. Retail investors pumped in Rs 8,230.76 crore via SIP in August, marginally lower than Rs 8,324 crore collected last month, data from AMFI revealed. The total industry AUM (asst under management) rose by 3.8% on-month to Rs 25.47 lakh crore as on August 31. Notably, the liquid funds posted a stellar rise as net inflows rose to Rs 79,428 crore in August as against Rs 45,441 crore in July.