Nifty May Gain 3% as Traders Turn Bullish

The Economic Times - - Sports -

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.

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