The Sensex lost its
early morning momentum and was trading over 30 points down following selling
and caution ahead of key CPI numbers due on Monday. Similarly, Nifty was up 8,372.The
Sensex surged by nearly 130 points in early trade today on continued buying by
investors amid hopes of rate cut by the Reserve Bank after weak IIP numbers.the Nifty levels between
8374 and 8378 would act as the most critical levels for the market today. the
bulls are successfully take out this zone then expect test of higher levels
between 8400 and 8470. The 30-share barometer was trading higher 129
points, or 0.46 per cent, at 27,791 with healthcare, teck, IT, oil & gas,
realty and consumer durables sector leading the gains. The Sensex had gained 87
points in the previous session.On similar lines, the Nifty recaptured
the 8,400-mark by rising 44 points, or 0.52 per cent, at 8,404.Growth in
industrial production in May slowed to 2.7 per cent from 5.6 per cent a year
ago, dragged down by manufacturing, strengthening the case for an RBI rate cut,
triggering buying by participants. Sensex that was trading flat following
selling pressure jumped over 300 points in afternoon trade on Monday after
Greece reached a deal with its European creditors that avoided an exit from the
euro. Nifty was also trading above 8,400. Asian stock markets also
soared on Monday after Greece and its European creditors agreed on a
bailout deal.
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