Nifty Tips
14 August proved to be the happy day of Indian share market. NSE Nifty surprised the traders and closed near 5-month high surpassing barrier of 5350 mark and setting positive undertone for the market in the near term. Some major results also announced today including Reliance infrastructure, Reliance Power and Hindalco Industries. Amara Raja Batteries was the star performer of the day. India’s second largest battery manufacturer reported close to 100% jump in bottomline.
On the global front, European shares and the euro rose on Tuesday as slightly better than expected performances by the German and French economies in the second quarter eased anxiety about wider euro zone data that are likely to show the bloc sliding back towards recession.
Inflation Data Today :- Inflation numbers came out lower than the street expectation. July inflation numbers came in at 6.87 % below street expectation of 7.24 %. This moderation in inflation raises expectation for some monetary easing.
Share market trend for 16 aug is considered to be up as trading sentiments will be higher due to lower inflation numbers. Wishing you all a very Happy Independence Day.
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