A volatile August with more power on the downside is over giving rise to a new month with new hopes altogether. Sensex and Nifty both saw a steady recovery after good 4-5 sessions of uncertainty backed by fall in the stocks in each sector. The markets today registered more than 1.5% upscale among the wait and watch situation with several unknown factors creeping in. We had a good monsoon which is quite the reason to expect the food inflation to come down.
However a major crisis in the economy seems hardly around the corner and other factors troubling the confidence of the investors should subside in some time from now. But expecting something huge or euphoria would be a too early call keeping in mind the current scenario. A consolidation of a great session yesterday the market was backed by some infrastructure such as JP Associates, DLF with Reliance being the star performer with a 4% rally. Talking about the global cues some of the European markets were in red but it dint seem to affect the Nifty which rallied through the 5000 levels. The US markets also opened on a steady note and seems to be hovering around the yesterday’s closing levels.
Bell the Bulls says: With the market sentiments ending at a strong note and with the markets closing at the days high it is expected that the session for the week will end above the 5000 levels.