Most sectors closed in the green with buying in banking, financial and oil and gas stocks.
The banking index rose 2 per cent to a record high after index heavyweights like ICICI Bank, Axis Bank, IndusInd Bank and HDFC Bank announced inline Q results, while smaller PSU banks reported impressive quarterly figures, said Siddharth Khemka, head of retail research. Said at Motilal Oswal Financial Services.
This week, domestic stock markets will take cues from global economic data by the US Fed. He said, ahead of these key events and the monthly derivatives expiry of Home Bank Nifty on Tuesday, the volatility index, India VIX, rose 12 per cent by 12.30 pm.
“After seeing a 1,000-point decline at the beginning of the month, the index has recovered smartly and is now 133 points away from making new highs. We expect Nifty to continue its positive trend due to healthy earnings season and macro data,” Khemka said.
Vinod Nair, head of research at Geojit Financial Services, said a rise in US tech quarterly earnings and a decline in US 10-year yield led to the rise in India's benchmark indices. Domestically, Bank Nifty outperformed its strong performance in the fourth quarter.
Easing tensions in the Middle East and stable earnings are expected to maintain positive market sentiment. Going forward, he said, US Fed policy and US non-farm payrolls data will determine the overall market dynamics.
The banking index rose 2 per cent to a record high after index heavyweights like ICICI Bank, Axis Bank, IndusInd Bank and HDFC Bank announced inline Q results, while smaller PSU banks reported impressive quarterly figures, said Siddharth Khemka, head of retail research. Said at Motilal Oswal Financial Services.
This week, domestic stock markets will take cues from global economic data by the US Fed. He said, ahead of these key events and the monthly derivatives expiry of Home Bank Nifty on Tuesday, the volatility index, India VIX, rose 12 per cent by 12.30 pm.
“After seeing a 1,000-point decline at the beginning of the month, the index has recovered smartly and is now 133 points away from making new highs. We expect Nifty to continue its positive trend due to healthy earnings season and macro data,” Khemka said.
Vinod Nair, head of research at Geojit Financial Services, said a rise in US tech quarterly earnings and a decline in US 10-year yield led to the rise in India's benchmark indices. Domestically, Bank Nifty outperformed its strong performance in the fourth quarter.
Easing tensions in the Middle East and stable earnings are expected to maintain positive market sentiment. Going forward, he said, US Fed policy and US non-farm payrolls data will determine the overall market dynamics.
