A morning walk down Dalal Street: Nifty can move towards 12,000 unless there are any expiry jitters

Episode 1363,   Jun 27, 2019, 01:30 AM

A strong rally despite muted global cues in the morning helped Nifty50 climb 11800 levels on a closing basis while the S&P BSE Sensex rallied by over 150 points on Wednesday.

Benchmark indices managed to put up a strong show ahead of the June expiry on June 27 amid reports of some agreement between US and China on trade issues. Volatility is likely to continue as traders will roll over their positions from June series to July series.

The near-term movement in the market is likely to be driven by progress on monsoon and global developments. The G20 summit, to be held on June 28-29, will be closely monitored by analysts, suggest experts.

The initial public offering of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 36.16 times on the final day of bidding June 26.

The Indian rupee June 26 advanced by 21 paise to close at 69.15 against the US currency in line with an uptrend in domestic equities.