A morning walk down Dalal Street | Nifty may head towards 11,181 if it sustains above 11,049
Episode 1615, Aug 28, 2019, 01:30 AM
Terrific Tuesday as the bull run continued on D-Street for the third straight day in a row. The index closed pared some gains from high but managed to close above 11,100 on the Nifty while Sensex recorded strong gains of nearly 150 points.
However, momentum seems to be fizzling out, suggest experts. Hence, it will be crucial for Nifty to hold on to 11,049 levels which was the intraday low formed in Tuesday's session.
Investor sentiment got a fillip as expectations of additional stimulus grew stronger after the Reserve Bank of India decided to pay a huge dividend to the government while the positive momentum built after the Finance Minister's announcements on August 23 persisted.
Commenting on the measures announced by Finance Minister Nirmala Sitharaman last week, William Foster, Vice President, Sovereign Risk Group, Moody's Investors Service said GDP growth rate will pick up next fiscal year to 6.8 percent.
The overall market capitalisation of BSE-listed firms jumped nearly Rs 5 lakh cr in the last three sessions.