Wall Street stocks closed higher for a second straight day on Thursday on mounting optimism that a U.S. debt ceiling deal could be reached within days.
SBIN result beat market expectation, but pre-positioning going into result led to profit booking post result above estimate.
US 10-year above 3.65% & Dollar Index @ 103.46. Gold trading around $1960 on strong weekly unemployment claim. Crude oil remains steady as US Dollar rises.
F&O data: FII in index futures added 6578 contracts at net long, position remains 49%:51%. Nifty & Banknifty PCR continue to trade in narrow range indicate mix view.
Approach on Indices: SGX Nifty indicate positive opening by 20 – 30 points. We believe indices could have catch-up rally going into weekend and remain bullish till Nifty @ 18137 & Banknifty @ 43552 hold
SGX Nifty @ 18211 up 33 points at 8:20 AM