UP, UP AND AWAY....AND SO DO THE MARKETS SWAY!!!- Angel Broking

Views of Mr. Mayuresh Joshi (Fund Manager, Angel Broking):

"The Indian Equity markets displayed their resilience and NIFTY closed 53 points higher at 8778. IT stocks were in the limelight in lieu of the announcement related to the buyback made by TCS. Though the quantum of the buyback and other details are not known, the other IT companies like Infosys, Tech Mahindra, HCL Tech also had positive moves as all these companies have significant cash reserves of their balance sheets fuelling hopes of similar announcements being made. Auto and Pharma counters also witnessed positive traction and with support from the banking counters like SBI, BOB etc aided the sustainability of the up-move. Overall, the positive sentiments are continuing in the markets and that trend can continue if global market conditions stay supportive."

Source : Equity Bulls

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