Nifty Regains from 5,500; Sensex Reaches Above 18,400
Bangalore: The Nifty sliced some of the gains after retreating from 5,500 mark in early trade. Analysts are predicting that market participants will mostly remain on sidelines ahead of the minutes of FOMC meeting and any upmove will be capped, reports Economic Times.
"Steps taken by RBI will engineer a short covering spree especially in banking and financial sector today. Markets will try and recover lost ground in the last few sessions. The Fed minutes are due tomorrow and that will decide the course of global equity markets further. If the Fed decides to taper bond buying by $10 billion effective September, expect a rally in all asset classes. Anything other than this, higher or lower, sooner or later will create another round of suspicion in the mind of the market," said HDFC Securities report.
