InvestorQ : What is your view on the Nifty and Sensex on 25 August? How do you expect the stock markets to behave?
Dia Deshpande made post

What is your view on the Nifty and Sensex on 25 August? How do you expect the stock markets to behave?

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diksha shah answered.
3 months ago
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Tuesday was another very bullish day on the bourses. Nifty closed a full 128 points higher coupled with a strongly favourable A/D ratio of 35:15. The Sensex, meanwhile, closed above the 56,000 mark and looks set to scale 60,000. Bajaj Finserv was the big gainer on MF launch plans. With metal stocks rallying at the cost of FMCG, risk-on appears to be back in action.

Once again, the IPO listings were disappointing on Tuesday with both Chemplast and Aptus closing at a discount. However, the stocks did manage to bounce back in late trades. Out of the last 6 IPOs to list on the bourses, only Devyani International has closed on the first day of listing at a premium over issue price.

Foreign investors sold shares worth Rs.1,645 crore on 24 Aug while domestic funds and insurances bought Rs.2,380 crore of equities. FII selling was rather pronounced in the Chemplast Sanmar counter, but most of it was picked up by domestic players. Global markets were largely mixed with SGX trading higher by 27 bps in early trades.

In terms of specific cues, traders need to watch for the liquidity flows into markets, which remains robust as of now. The Sensex could easily scale to 60,000 from current levels because the current rally is being led by the large caps. Mid-caps and small caps should catch at some point with the overall market direction.

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