Nifty – Shake off of weak bulls

Nifty and Sensex continued to make new highs. There was good momentum and sector shift seen. It is a healthy sign when different sectors take part in the rally. As indicated in the July edition of Market Pulse, the IT, Healthcare and FMCG sectors outperformed the indices. Real Estate and Capital Goods were he worst losers respectively.

The RBI meet on the policy on 5th Aug could be a decider of the further course of the markets. Whatever the decision on the rates, we expect the bullishness to continue. If we can have a pre-election rally, a pre-budget rally then why not a pre-independence day rally on the indices? The sectors in focus during this month would be Oil and Gas, especially the PSU stocks.

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