The Benchmark Index Nifty rallied for the second day and closed at 9917, 33 points above its Wednesday’s close of 9884. The Index opened at 9906 and made a high 9925. The Index has closed above its week one high of 9884; immediate target for the Index is at 9948 which is a two week high of Nifty.
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The Indian gross domestic product GDP grew 5.7 percent in April-June, badly lower than last year’s 7.9 percent expansion in the same quarter where in previous quarters 6.1 percent growth; this signals that India is still under the pressure of demonetization and GSTs effect on business.
Bank Nifty opened at 24354 and closed at 24318 after making a low of 24208. The Index was up by 9 points from its previous close of 24309.
Nifty to open gap up by 3 points at 9940 against yesterday’s close of 9937 as per SGX Nifty.
The Cash Market Benchmark Index Small Cap opened at 7690 and closed at 7748 after making a high of 7690. The Index was up by 1.21%. The Index is trading above its two weeks high of 7600; immediate target for the Index is at 7823.