Nifty to open higher, gain 52 points: Dynamic Levels

Dynamic Levels

Market rallies after Reserve Bank of India’s Monetary Policy Committee decided to hike repo rate by 25 basis points i.e. from 6 to 6.25 percent, which was well within the expected line.

The Nifty Index rose 92 points or 0.86 percent to 10685.the cash market Index also gained 126 points or 1.73 percent to close the Index at 7428.

Markets are expected to rise further as major players of the market have bought 35680 contracts in Index option.

Among the sector performance Fertilizers, FMCG-Food and Chemicals were up by more than 2.5 percent each. Zuari Agro Chemicals and Bharat Rasayan in fertilizers were up by 9.95 percent and 8.22 percent respectively.

In FMCG-Food , Parag Milk Foods was up by 5.43 percent while in chemicals Thirumalai Chemicals and Panama Petrochem zoomed by 16.52 percent and 11.56 percent respectively.

Nifty is opening gap up by 52 points from previous day close of 10,690. Currently Nifty trading at 10742 as per SGX Nifty.

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