After witnessing roller coaster ride, Nifty started the new financial year with a ban gaining 2.15% to close at 10331. Renewed investor interest in mid cap and small cap stocks outshined the Nifty by gaining 4% and 5% respectively. The PSU Banks stocks gained post-Reserve Bank of India (RBI) kept its policy rates unchanged citing lower inflation for 1HFY19 and rally in the bond market. The RBI allowed banks to amortise mark-to-market losses for the third and fourth quarter of the previous fiscal FY17-18 over four quarters thus providing a cushion on March quarter earnings and encourage the PSU Banks to re-enter bond market. For the week, Indian markets will continue its volatility as the fresh trade war between the US-China-Russia and Fed rate hike fear will spook sentiment at the start of the week, however, NBFCs and PSU Banks will remain in action on lower G-Sec yield.

Source: dna April 09, 2018 01:52 UTC