P K Agarwal, president- research, Bonanza Portfolio, while commenting on the markets said, yesterday`s inflation data was the pleasant positive surprise for the market. Global cues were also positive, resulting in markets opening with a gap up.
Nifty gained more strength as the day progressed. Q1 GDP growth came at 7.9%, which was acceptable to the market.
Nifty touched a high of 4,368 and closed near the high at 4,360.
Banking, accompanied by SBI, PNB, BPCL & Rel Infra led the Bulls charge. Cairn India was the lone heavy weight loser.
Giving his openion on the next week`s market, Agarwal said, ``Markets may see higher levels, in the week starting 1 Sept 08. Nifty can go upto 4,400/4,420 levels, where market may face resistance. On down side 4,300 can provide support.``
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. |
Market News
Comments