Indian Markets jump on firm global cues - ZENMoney

Domestic indices opened the session on a positive note following the firm global cues and ahead of WPI data to be released later in the day. Markets remained positive on hopes of a rate cut by the central bank in its policy meet on June 17. Investors’ also found some support with FM’s statement that the government will unveil more reforms in the next few days and weeks, to revive investment and growth and there is no need for panic over the rupee’s weakness. With better than expected inflation numbers and supportive global cues, indices witnessed buying interest in frontline blue chip counters and taking positive cues from European counterparts, markets ended the day with gains.

•On a sectoral front, all the sectors witnessed buying interest ahead of RBI’s monetary policy led by Consumer Durables, Auto and Realty sectors. Metals, Capital goods, Oil&Gas, Power and Banking sectors also witnessed buying interest during the day. Health care, FMCG and IT sectors ended the day with marginal gains.

Source : Equity Bulls

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