Domestic benchmark indices ended slightly above the flatline as the market recouped losses driven by gains in financials stocks and index major Larsen & Toubro.
On Thursday, Nifty50 closed 0.1 percent higher at 17,956.50 while Sensex ended flat at 60,298.
“Any small positive trigger would take the markets up quite high. Lo and behold, that is what has happened July onwards and we have seen between then, and today about a 16-17 percent uptick in in the frontline index,” said Anshul Saigal, Head and Executive Vice-President, Kotak PMS.
Even this move is most under bought, according to him.
He added, “I wouldn't be a seller aggressively into this rally at this time”.
Here's how Rupee ended:
Elsewhere, domestic
gold prices extended gains on Thursday amid losses in domestic equities. Global gold benchmarks slipped to near two-week low, pushed by a firm dollar.
MCX gold October futures climbed 0.3 percent to touch the intraday high of Rs 51,711 per 10 grams. White metal future, however, fell 0.6 percent to Rs 56,551 per kilogram.
Global markets
MSCI’s Asia Pacific ex-Japan index was down 0.6 percent while most European benchmark indices were in the positive territory.
Meanwhile, S&P futures were flat, hinting at a lukewarm start for the US equities.
Federal Reserve officials said in policy meeting minutes that inflation pressures were not easing and a European Central Bank official warned the outlook had not improved.
(With inputs from agencies)
