Market likely to open higher: Dynamic Levels
Rupee appreciated by 0.37 percent from 65.42 to 65.17 against US dollar as rising risk appetite pushed back the US currency, which leads to a higher opening of Indian markets, says Dynamic Levels.
Dynamic Levels' Market Outlook:
Market continues rally with Small Cap Index leading from the front
Yesterday, the Indian Benchmark Index Nifty closed 0.28 percent up at 10017 after making a low of 10002.
Rupee appreciated by 0.37 percent from 65.42 to 65.17 against US dollar as rising risk appetite pushed back the US currency, which leads to a higher opening of Indian markets.
The Small Cap Index has continued its rally for the fifth consecutive day and has outperformed the major index Nifty. Small cap index was up by 0.81 percent on closing basis yesterday.
Sugar sector witnessed a sharp buying yesterday. Among the stocks, Dwarikesh Sugar zoomed by 19 percent, Dhampur Sugar, Triveni and Dalmia Sugar were up by more than 6 percent each.
Nifty outlook & Open Interest in Index OptionCash Market Data
In last 10 days, FII and PRO in combined have made a buy position of 291386 contracts in Index Options. In the current expiry, they have a combined buy position of 124740 contracts.
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