Mumbai, April 1: After a sell-off in last hour of trade, the NSE Nifty ended F&O expiry session on a flat note Thursday but the March series was strong with more than 10 percent rally, majorly supported by foreign money.
The 50-share NSE Nifty stayed positive (amid rangebound trade) for major part of session today but volatility in last hour of trade (due to expiry) dragged it below 7750. The index was up 3.20 points at 7738.40 and the 30-share BSE Sensex rose 3.28 points to 25341.86.
Experts feel the market undertone is positive but they don’t expect Nifty to suprass 8000 level in near term.
Corporate India is back to investing once again. There are ongoing efforts, too, at cleaning up balance sheets, which is evident from the number of asset sales that have taken place in the last few weeks, says market expert Prakash Diwan of prakashdiwan.in.
He adds global investors take such cues positively and are likely to be attracted to the Indian market.
Ashwani Gujral of ashwanigujral.com feels it is possible that Nifty would rally to about 7900 in the initial part of April and, thereafter, stay sideways in the range of 7550–8000.
The financial year 2015-16 was pathetic for market as benchmarks shed 9 percent due to failure in passing GST bill in parliament, China concerns, lack of reforms, slow investments in infrastructure.
