Here's what to expect from the markets today
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The Nifty gathered steam on Friday as strong overseas cues propelled the index higher for a second day on continued short covering and demand for quality stocks at beaten down prices.
The Nifty surged 116 points, or 1.5 percent, reclaiming the 8,000-point mark at 8,065 in the first hour of trade. As a consequence, the Advance-Decline Ratio stood at 48/2. Cairn,
ICICI Bank was the top traded counter on the
Broader indices such as the CNX 100, CNX 200, CNX 500 and CNX Nifty Junior, CNX Mid Cap and CNX Small Cap gained between 1.3-1.9 percent, indicating that bulls were making a strong comeback on Dalal Street.
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And on the
Bulls stamped their command on the broader market with the Advance-Decline Ratio at 1,345 shares gaining versus 345 that fell.
The futures and options space was also in a smart uptrend with 148 futures advancing compared with 12 that fall. All 18 sectors showed gains for the secon day. Cairn, ONGC and Wockhardt Pharma were the top gaining futures while Dabur, Indiabulls Housing and Tata Communications fell.
Image credit: Indiatimes
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