A morning walk down Dalal Street | Focus on stock specific opportunities with stop loss placed below 10,733

The bulls continued to dominate D-Street as benchmark indices ended higher for the fourth straight session in a row, thanks to global cues. So what was the reason – well, trade talks between US-china ended on an optimistic note which boosted investor sentiments.

The S&P BSE Sensex rallied 231 points to finally close above Mount 36K at 36,212 while Nifty50 reclaimed 10,850 to end at 10855. 

The broader market underperformed benchmark indices as the ‘BSE Midcap’ and ‘BSE-Smallcap’ ended lower by 0.04% and 0.2%, respectively.

A steady rise in crude oil prices which are now hovering around $60/bbl could act as a headwind for Indian markets apart from earnings. December quarter is seasonally seen as a slow quarter for India Inc., suggest experts. 

On the macro front, World Bank in a report said that India’s GDP is expected to grow at 7.3 percent in the fiscal year 2018-19, and 7.5 percent in the following two years, attributing it to an upswing in consumption and investment.

The bank said India will continue to be the fastest growing major economy in the world. China’s economic growth is projected to slow down to 6.2 percent each in 2019 and 2020 and 6 percent in 2021.