The Nifty saw a smart close for the 3rd day running as strong buying by foreign investors improved sentiment even as local funds also bought stocks.
Nifty closed above the 17800 mark with the Bank Nifty also closing in on 37,000 cloning at 36,885. ONGC, NTPC, SBI, and Reliance led the index gainers while Tata Motors, Coal India & Tata Consumer led the losers.
Nifty next 50 closed higher by 1.05% while the breadth of the market was positive.
US Market: US stocks see mixed close as Dow Jones closes at all-time highs while Nasdaq closes lower by over 1.33% as rising yields sees profit-booking in technology stocks.
Russell 200 index also closed higher by over 1.3% indicating the positive breadth of the mid-cap rally. Bond yields rise to 1.64% while oil prices see a sharp rise as consumption rises with supply chain disruptions adding to premium.
Asian Market: Asian markets opened muted with the Japanese ‘Nikkei’ trading flat after a superb over 500 points rally yesterday.
Most other Asian markets were mixed with the Taiwan index hitting fresh new all-time highs.
The Chinese stocks have been seeing mixed reactions even as ETF flows see long term buying interest.
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