Friday, September 2, 2011

Nifty sustained above 5000

It was a positive sign to close Nifty above 5000. Global cues were mixed but the Indian Market remains steady and closed with significant gains in almost all sectors. This week performance was good and the numbers are: Sensex up 6.3% and Nifty also up 6.3%

Nifty closed quite strong, however experts suspect that Nifty will sustain at this level next week for the following reasons

  1. Inflation need to curb and RBI may hike rate by another 0.25%
  2. Slowing US economy poses further downside risk to our earnings

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