Today was a day of consolidation for the market as the market closed with marginal gains with Nifty ending up with a gain of 0.34% and ending near the crucial level of 5500.The consumer durables, FMCG and capital goods were the best performers whereas there was pressure on oil marketing companies and realty also closed with marginal declines.
There was significant rebound in the other Asian markets with bounce with South Korean Won raising on back of the seven month high current account surplus.
There is significant optimism ahead of the Greek vote on austerity vote being reflected in pick up in the Euro and the European markets.Crude has also bounced from its lows and is up 1.7 % on positive expectations.Overall International markets seem to be rebounding this week from their oversold levels and are expected to provide support to our markets. Lets if the rally in our stock market does extend for tomorrow which is expected.
By Pavan Kumar P
Batch of 2010 - 12
Goa Institute of Management
For SOFIA
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