Bull vs bear: Sensex, Nifty 50 extend rally. Is Indian stock market getting ready for a fresh bull trend?
Bull vs bear: Indian stock market extended its rally for second straight session on Thursday. In opening bell today, Nifty 50 index opened flat at 19,674 levels and went on to hit intraday high of 19,781 levels, logging 338 points rally in two straight sessions. Sensex today opened at 65,665 and went on to hit intraday high of 66,054 levels, ascending 1,121 points in two days.
Nifty Bank index today opened with upside gap at 44,251 levels and went on to hit intraday high of 44,353 mark, appreciating to the tune of 462 points in two successive sessions. In broad market, small-cap index opened upside at 39,406 levels and went on to hit new life-time high of 39,477 within few minutes of stock market's opening bell today. Mid-cap index too had a gap up opening at 33,207 levels and the index touched intraday high of 33,239 mark, mising to hit existing record high of 33,245 mark.
Tata Technologies IPO opens on November 22, price band set at ₹475-500 apiece As foreign institutional investors (FIIs) tuned net buyers on Wednesday after series of selling sessions, Dalal Street is buzzing with speculations of fresh bull market in near term. According to stock market experts, fresh rally in Indian stock market can be assumed once Nifty 50 index breaches 19,850 levels on closing basis and sustains above 20,000 mark for few sessions. They said that current participatory rally may lead to fresh bull market as FIIs are expected to remain net buyers due to falling US treasury yields and US dollar index.
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