A morning walk down Dalal Street | Nifty may move up sharply if index closes above 11,911
Episode 1385, Jul 02, 2019, 01:30 AM
The countdown to the Budget has started and it looks like the D-Street is already in a good mood.
Sensex rallied nearly 300 points on July 1 to snap its 2-day losing streak while the Nifty reclaimed 11,850 helped by strong global cues.
The final tally on D-Street – Sensex rose 291 points to 39,686 and Nifty recorded 3-week closing high at 11,865, up 76 points from its previous close.
Global markets edged higher as trade tensions between the US and China eased that helped Nifty breakout above 11,800. On the domestic front, expectations of a pro-growth Budget, and steady auto sales data helped the rise.
The Indian rupee surrendered most of its early gains and settled for the day 9 paise higher at 68.94 against the US dollar on Monday as investor sentiments were revived by US-China trade truce.