Early on D-Street | Nifty may head towards 12,200 if index sustains 12,021
Episode 1874, Nov 08, 2019, 01:30 AM
After a stable Wednesday, we witnessed a terrific Thursday. The S&P BSE Sensex hit a fresh record high of 40,688 while the Nifty50 is just 91 points away from its record high of 12,103.
Positive cues from both global as well as domestic markets helped the markets move up higher. On the global front, sentiment got a boost after the news that US and China have agreed to proportionally roll back tariffs on each other’s goods in phases, said, experts.
Other factors are also encouraging like strong FII buying interest, good quarterly results and expectation of further stimulus from the government, they say.
Sectorally, the S&P BSE Energy index was up 0.9 percent, followed by the Metal index which was up 0.95 percent, and the S&P BSE Realty index gained 0.78 percent.
On the losing front, the S&P BSE Public Sector index was down 0.76 percent, followed by the S&P BSE Oil & Gas index which was down 0.62 percent, and the S&P BSE Capital index fell 0.5 percent.
Broader markets outperformed – the S&P BSE Midcap index rose 0.69 percent, and the S&P BSE Small-cap index rose 0.54 percent.