The News International Team
10:15am Market Expert
There is a confluence of positives in India right now and that’s the reason things are turning constructive for the Indian market, says Dipen Sheth of HDFC Securities.
In an interview to CNBC-TV18, Sheth says the Nifty is currently in a multi-year, multi-themed, multi-faceted bull run.
On his sectoral prefences, Sheth says he likes special restautants and great fine-dining franchises. He also believes the midcap space has a lot of talented companies that can be invested into right now.
10:00am Market Check
Equity benchmarks continued to trade around their record highs with the Sensex rising 235.50 points to 27581.83 and the Nifty climbing 68.20 points to 8237.40 following strong US cues.
The broader markets too gained momentum with the BSE Midcap and Smallcap indices adding 1 percent each. About three shares advanced for every share declining on the Bombay Stock Exchange.
Technical Analysts Rajat Bose is bullish on the Indian market. He says that Nifty is in an uptrend and it could touch 8,250-8,300 going ahead. He recommends market participants to buy on dips.
Major largecaps like Reliance Industries, Infosys, HDFC, ITC, HDFC Bank, TCS, Larsen and Toubro, ONGC, State Bank of India and Axis Bank gained 1-1.6 percent.
Hero Motocorp, Tata Steel, Wipro, Tata Power, Dr Reddy’s Labs, Coal India and Sesa Sterlite too climbed 1-1.6 percent.
However, Bharti Airtel (post Q2 earnings), Hindustan Unilever, ICICI Bank and Hindalco Industries were only losers in the Sensex.