InvestorQ : What is your market view for 18 December, considering it is the last trading day of the week?
swati Bakhda made post

What is your market view for 18 December, considering it is the last trading day of the week?

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diksha shah answered.
3 months ago
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It does look like the rally has a lot of steam still left as the Nifty got closer to the 13,750 mark on Thursday. There also appears to be continuous sector rotation so that there is demand for stocks at any point of time and the themes keep changing.

Thursday, 17 Dec was a day dominated by the financial stocks like Bajaj Finance, HDFC and IndusInd helping the Nifty to inch higher. Nifty has already rallied 18% since the beginning of November and all this happens in a span of 33 days flat, so it is really amazing.

Apart from flows and optimism, the other thing working in favour of the market is the falling VIX which tapered to 19.15. This clearly indicates there are enough buyers to pick up stocks on every dip. Most experts don’t see risks to the rally unless VIX crosses 25 on the upside.

The saga of FPI buying continued on Thursday with FPIs net buyers of Rs.2355 crore even as DFIs sold Rs.2494 crore. The flows from FPIs have been so intense that we have seen net infusion of Rs.100,000 crore from foreign investors in last 33 trading sessions.

Global markets, especially the NASDAQ, continued to rally higher, gaining close to 90 basis points. While Europe was mixed, the SGX Nifty is trading higher in early trades on Friday and is likely to be more influenced by Asian cues.

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