23 August, 2014 19:56 IST
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Appreciating rupee should complement markets rally ahead: Amar Ambani
Source: IRIS (08-DEC-12)
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Indian benchmark indices moved up marginally over the last week. Markets ended on a soft note on the back of the passage of the multi brand retail bill in both houses of the Parliament. The UPA government won vote on FDI in multi-brand retail in the both the houses. Now investors are waiting for how Winter session of the Parliament pan out ahead.

Commenting on the market outlook, Amar Ambani, Head of Research, IIFL said, ''Markets extended gains for third straight week on back on announcement of aggressive reforms in FDI retail and managed to close above 5900 levels. After sharp up move from troughs of 5540, Nifty has been taking breather near 5950 levels and move past same could extend the rally towards 6100. The only concerns for markets comes from currency perspective as USDINR has not violated the support of 54 levels despite positive news flow and going forward appreciating rupee should complement markets rally. Sentiment would also be impacted by Wholesale price index data, Industrial Production data and the CPI data to be released in the coming week,'' he said.

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