Nifty likely to open higher, gain 9 points: Dynamic Levels

Dynamic Levels' Market Outlook:

The Indian benchmark Index Nifty yesterday settled with modest gains. Markets continued to trade sideways with Nifty ending the session 24 points higher at 10,742.

However, most IT shares rose as the rupee weakened against the dollar, weak rupee boosts revenue of IT firms in rupee terms as the sector derives a most of its revenue from exports. USD/Rupee closed at 67.26 after making a high of 67.53.

The cash market benchmark index Small Cap fell by 22 points or 0.27 percent from its previous close. The Index made a high of 8324 and a low of 8269 to finally settle at 8274.

President Donald Trump announced the United States would exit a nuclear pact with Iran and re-impose sanctions on Tehran, saying the Obama-era deal failed to contain the regime’s nuclear ambitions and regional meddling.

Nifty Future is opening gap up by 9 points against yesterday’s close 10769 as indicated by SGX Nifty which is currently trading at 10778.

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