Stock market bull and bear. (Graphics: Benaki Paul). Image source: IANS News
New Delhi, August 28: Siddhartha Khimka, head of retail research at Motilal Oswal, said domestic stocks were trading in the positive territory amid gains in global markets after China announced a 0.1 percent tariff cut on share trading to help the ailing stock market with the prospect of more stimulus in the future. the future. financial services.
The Nifty index snapped a two-day decline to close with a gain of 40 points, at 19306 levels. The broader market outperformed, as the Nifty midcap 100 rose 0.5 per cent, while the Nifty Smallcap 100 rose 0.7 per cent. The Sensex index also broke a two-day losing streak, rising 110 points, or 0.17 percent, to close at 64,996.60.
All sectors finished green with the exception of information technology, fast-moving consumer goods, and oil and gas.
Reliance Industries was in focus in the second half of the day as the 46th Annual General Meeting kicked off as it announced the launch of JioAirFibre.
Markets are likely to remain in consolidation mode this week amid key events including the release of domestic GDP, monthly expiry, and domestic and global macroeconomic data.
Khimka said a deficit of 7 percent in the June-September monsoon could keep the upside limited.
Trading volumes on the NSE exchange were below the recent average. Deepak Jasani, head of retail research at HDFC Securities, said broad market indices rose more than Nifty even as the advance decline ratio remained above 1:1.
Source: IANS
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