Indian Indices gain for third day in a row - Standard Chartered Securities

Key benchmark indices gained for third day in a row after the latest data showed that core inflation or non-food manufacturing inflation eased further in June 2013. The BSE Sensex attained 6-1/2-week closing high above the psychological 20,000 level. The Nifty attained 6-1/2-week closing high above the psychological 6,000 level.

Metal and mining stocks were in demand after data showed China's economy grew in line with expectations in the second quarter, belying some fears of a sharper slowdown. Realty stocks gained. Telecom stocks rose on renewed buying, with Idea Cellular hitting 52-week high. Bank stocks rose.

Markets expected to open higher, tracking firm global markets. However, weaker rupee can check initial gains. Further, FII selling can moderate the gains during the initial session.

Source : Equity Bulls

Keywords