The positive reaction in the market after government declaration of stake sale in PSUs continues for the second day. It seems that traders are reacting in a drastic way over the decision. According to the finance minister government will sell 10% of it's stake in profit making PSUs. Apart from that government is reviewing the FDI hike recommendation in aviation and insurance sector which also became a positive news in the market.
Rupee appreciation due to the weakness in the US currency is also one major reason for the upward trend in Indian bourses. All the sectoral indices except FMCG attracted buying interest. PSU stocks recorded a 4% hike in price. MMTC Ltd, State Trading Corporation of India Ltd,Rashtriya chemicals and fertilizers and Dredging Corporation of India Ltd are the major gainers among PSUs.
It is beleived that in the coming week also there will be increased buying interest in Indian market. In the global scenario European indices witnessed buying interest due to the upward trend in the US. American job report card says the country is performing well. This also played a major role in moulding trader sentimence across the globe.
Rupee appreciation due to the weakness in the US currency is also one major reason for the upward trend in Indian bourses. All the sectoral indices except FMCG attracted buying interest. PSU stocks recorded a 4% hike in price. MMTC Ltd, State Trading Corporation of India Ltd,Rashtriya chemicals and fertilizers and Dredging Corporation of India Ltd are the major gainers among PSUs.
It is beleived that in the coming week also there will be increased buying interest in Indian market. In the global scenario European indices witnessed buying interest due to the upward trend in the US. American job report card says the country is performing well. This also played a major role in moulding trader sentimence across the globe.
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