Moneycontrol
Mar 16, 2017 10:12 PM IST | Source: CNBC-TV18

Market still expanding; metal, mid caps to continue outperforming: Gujral

The market on Thursday saw renewed FII buying interest after the US Federal Reserve meet concluded. The US Fed hiked key rates by 25 basis points owing to a strong US jobs growth and firming inflation.

The market on Thursday saw renewed FII buying interest after the US Federal Reserve meet concluded. The US Fed hiked key rates by 25 basis points owing to a strong US jobs growth and firming inflation.

While Sensex gained 187 points closing at 29,585, Nifty closed at a new high at 9,153 points.

The Nifty may continue expanding and may only see some consolidation after a 150-200 points upward move, said Ashwani Gujral of ashwanigujral.com. He suggested investors to hold off plans to book profits at the current levels.

He also said the mid-cap and metal stocks will continue to outperform on Friday. "Tomorrow will be another good day for metal stocks," said Gujral.

Prakash Diwan, Market Analyst, said BJP's big win in Uttar Pradesh is going to mean big gains for investors as the new government may bring about an increase in GDP contribution from the state.

Prakash Gaba is confident that the bull rally is not yet done. He recommended booking profits at levels around 9,218 on Nifty.

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