Nifty settles above 10650 mark
The New Year cheer extended to the second consecutive week in a row in the year 2018. There seems to be no stopping as benchmark indices keep hitting fresh lifetime highs almost everyday. Macro indicators are showing traction, exhibited by rise in manufacturing PMIs, eight core sector output and auto sales. Ongoing reform measures by the government have paved the path for robust growth next fiscal year.
Markets are choosing to ignore any unpleasant events including rising crude oil prices which may turn out to be a headwind going forward.
TCS, Infy and IndusInd Bank kickstarted the results season as they both came out with quarterly numbers that were in-line with market expectations.
Meanwhile, the government moved a step further to put India on the global investment map in facilitating ease of doing business. The Union Cabinet has allowed 100% FDI in single brand retail and construction under automatic route, while permitting foreign airlines to invest 49% in Air India via government route.
For the week, Nifty and Sensex both gained by 1% each.
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Via:: Stock – India Infoline