A morning walk down Dalal Street | Nifty may rally further if it tops 11,695; follow 'buy on dips' approach
Episode 1728, Sep 27, 2019, 04:45 AM
Positive global cues, rupee's rise against the dollar and a drop in global crude oil prices pushed equity benchmarks Sensex and Nifty over a percent higher on September 26.
Investor sentiment got a fillip after positive comments from China on a trade deal with the United States. As per Reuters, the Chinese commerce ministry said Beijing is in close communication with Washington and is preparing to make progress at trade talks in October.
Nifty ended September series with a gain of nearly 6 percent, forming a bullish candle after forming red candles in the last three consecutive expiries, which indicates that bulls are trying to take charge from the lower end.
The index logged a gain of 131 points, or 1.15 percent, settling at 11,571.20, with 41 stocks up and 9 down.
The Sensex index closed 396 points, or 1.03 percent, higher at 38,989.74, with 23 stocks in the green and 7 in the red.
The overall market capitalisation of BSE-listed firms jumped to Rs 1,48,45,854.70 crore from Rs 1,46,88,763.39 crore on September 25, making investors richer by Rs 1.57 lakh crore in a single day.