Nifty May Gain 3% as Traders Turn Bullish
The Nifty could gain as much as 3% this month. Traders built fresh bullish bets on Nifty as forecasts of higher than normal rains and softening inflation raised hopes of further rate cuts, reports Biswajit Baruah.
these levels, said Prasad.
“Valuations are quite fair at current levels with the market trading at 17 times FY17 earnings,” he said. Gains in the broader market were relatively subdued compared to the benchmark indices. Mid- and small-cap indices rose about 1%, while gainers outnumbered losers 1,600:1,093 on the BSE.