Friday, 16th sensex had a 300 point gain in morning trade session which resulted in a comeback after a few days of point depreciation, which was later led by gains in HDFC Bank, ITC, Axis Bank, ICICI Bank, and SBI.
An Important level of 8,800 supported by gains in IT, Realty, power, oil & gas, capital goods, banks and auto stocks was reclaimed by Nifty50. The national market rallied in line with Asian markets after weak U.S. data reduced the already low chance of an interest rate increase later this month by the US Federal Reserve.
Future Traders are pricing in a 12 percent chance of a rate increase this month, down from 15 percent on Wednesday, according to the CME Group’s FedWatch tool.
The 30-share index was trading 286 points higher or 1.01 percent at 28,699 at 10:00 A.M. Later it touched a high of 28,736.43 and a low of 28,520.17 in the morning trade.
The Nifty50 was trading 8,826 up 84 points or 0.96 percent, and it touched a high of 8,835 and a low of 8,780.25 in the first half an hour of the trade.
