Expect market to rally today: Mohoni
April 17th, 2009
European indices were strong last night, and the US markets rallied as well. Asian markets are also quite strong this morning, and the global short-term is up once again. We can accordingly expect the market to rally today.
The market declined on Thursday, with the index down 337.33 points (2.99%) at 10,947.40, the nifty 114.65 points (3.29%) at 3,369.50, and the CNX Midcap 142.80 points (3.61%) at 3,815.55. The largest negative contributions to the index were from Reliance Industries (97.9 points), Larsen & Toubro (34.8), ICICI Bank (26.9) and ONGC (25.7). The biggest positive contributions were from ITC (22.0 points) and Hindustan Unilever (5.4).