A morning walk down Dalal Street | Strong rally is possible only if Nifty closes above 11,920
Episode 1389, Jul 03, 2019, 01:30 AM
Despite weak auto sales data as well fall in GST collections below the Rs 1 lakh crore mark since February, bulls managed to steal the show. The Nifty50 after starting on a muted note managed to reclaim 11900 levels for the first time since June 13.
The market seems to be waiting for the union budget of the govt. of India which is scheduled to be presented on July 5, 2019 this week.
Experts feel that we could witness a pre-budget rally in the run up to the event on expectations of various measure to be adopted by the govt. to boost the economic growth of the country.
Real Estate, Pharma, Infra, FMCG and Steel sectors could be expected to show up-side movements for the rest of this week, they say.
Trade war fears have not faded away completely. The Indian government may impose anti-dumping duty on imports of certain types of steel products from the EU, Japan, the US and South Korea, as the commerce ministry has started an investigation into an alleged dumping of the item following complaints from domestic players.