New Delhi, 07 February. BSE Sensex is up over 300 points in morning trade led by IT majors Wipro and TCS. Sensex is trading 381 points higher at 72,124.43 points. There is a rise of three percent in Wipro, three percent in TCS.
V.K., chief investment strategist at Geojit Financial Services. Vijayakumar says that there is no clear positive trigger in the market that can immediately take the market to new highs. The RBI meeting to be held on February 8 is an important event. But there is no possibility of any positive trigger like rate cut in the RBI meeting.
The global market structure is also challenging. The 10-year bond yield rose again to 4.13 percent and the dollar index rose to 104.5. The good thing is that the US economy is performing surprisingly well and the chances of a global recession are very low. This, along with declining inflation in the US, could support global equity markets. He said that investors can wait for the trends to emerge in this bullish market.
Deepak Jasani, head of retail research at HDFC Securities, said Asian shares fell as strong US economic data further dampened expectations of rapid monetary easing by the Federal Reserve. Nifty had closed lower in a volatile session on February 5. Nifty was down 0.38 per cent or 82.1 points at 21771.7.