A morning walk down Dalal Street | Overall bias could remain positive to range-bound
Episode 1395, Jul 04, 2019, 01:30 AM
Bulls managed to push the index in green towards despite wild intraday volatility
The index bounced back after retesting 11900 levels which suggests that there is plenty of firepower at lower levels for Nifty50
The sectoral indices exhibited a mixed trend. While Auto, IT and Consumer Durables remained the top losers, the other sectors like FMCG, Capital Goods, and Realty were the top gainers.
Markets are likely to remain volatile ahead of the Budget on July 5 and profit taking at higher levels could be seen towards 11,950-12,000. Investors would also track developments around US and Iran tensions and crude oil prices.
Market participants would also monitor the monsoon progress, movement of crude oil prices and currency.
The Indian rupee July 3 saw a marginal 6 paise gain at 68.89 against the US dollar in line with a steady trend in domestic equities in the run-up to the Union Budget due on July 5.