The market went into a sharp downtrend. Weak domestic macroeconomic data coincided with global currency uncertainty and a statement from the Reserve Bank of India (RBI) Governor ruled out a rate cut in the next policy review.
The bull run continued as the European Central Bank (ECB) decided to cut rates and loosen up money supply. The indices hit new highs on Monday with the Nifty touching 8,180. The move was broad-based with Advances far outnumbering Declines.
The indices closed at all-time highs on the eve of settlement after seeing some nervousness a few days before. The Supreme Court's judgement that all coal block allocations after 1993 were illegal has led to a lot of confusion in the energy sector.
Markets continue to trade firm since early trades led by Reliance Industries after it announced better-than-expected earnings over the weekend. The Nifty has been hovering around 7,700 levels as of now.
Check out the F&O strategies in select stocks such as TCS, Hindalco, Kotak Mahindra Bank, Asian Paints and Ambuja Cements with Shshank Mehta, Independent Derivative StrategistSmartInvestor:Markets seem to be volatile today recovering in noon trades.
Check out the F&O trends in select stocks such as Infosys, Tata Motors, DLF, IDFC and Tata Power with Navneet Daga, Derivative Analyst at KR Choksey Securities:SmartInvestor : Markets have come off their record highs in noon trades with the Sensex