The markets extended the bull rally after bullish breakouts and gains were seen for the fourth successive session and buying sentiments across the indices, especially the heavyweights such as Reliance, HDFC, Infy etc. helped to lead the indices. Above average Monsoon forecast, strength in Rupee too aided the positive sentiments and made the benchmark indices to close strong gaining around more than 1%.
All the indices supported the markets to gain, but Banking and Financials lead the rally.
Global Market Updates:
- Japanese stocks rose in thin trade on Friday, amid the growing prospect that Prime Minister Shinzo Abe would delay by several years a sales tax hike scheduled to go into effect next April.
- Nikkei share average edged up 0.4 percent to 16,834.84 and ended a very light trading week just over half a percent higher.
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