A morning walk down Dalal Street | Nifty must hold 11,100 for positive momentum to continue
Episode 1507, Aug 01, 2019, 01:30 AM
Indian market traded cautiously in the morning but picked up momentum in the last 90 minutes of trade largely fueled by hopes of rate cut by the US Fed followed by a dovish commentary.
The final tally on D-Street: the S&P BSE Sensex up 83 points and the Nifty50 higher by 32 points at 11,118 on Wednesday.
Auto stocks will be in focus as they start declaring their monthly sales numbers for July.
There is some cheer on the monsoon front. India's monsoon rains in the week ending on July 31 were above average for the second time since the start of the season on June 1, helping farmers accelerate the planting of summer-sown crops and easing concerns of drought.
On the macro front, the government's fiscal deficit touched Rs 4.32 lakh crore for the June quarter, which is 61.4 percent of the budget estimate for 2019-20 fiscal.