The market continues to surge on support from index
heavyweights. The Sensex is up 203.84 points or 0.7 percent at 27203.56, and
the Nifty up 61.40 points or 0.7 percent at 8349.15.
Dr Reddy's Labs, BHEL,
L&T, GAIL and Tata Steel are top gainers while Coal India, TCS, Tata Motors
and Maruti are losers in the Sensex.
The market is in a global deflationary
environment currently, says Taimur Baig of Deutsche Bank AG. Emerging markets
(EMs) are in a sweet spot in this volatility. While the volatility continues in
the global markets, EMs have strong growth potential.
Baig does not expect the
US Federal Reserve to hike rates anytime soon. Considering the slowing growth
momentum in the US, expectations of no hike are legitimate, he says. China,
which continues to slowdown, had got sidetracked due to the UK referendum. Debt
realization by China will be closely watched.
BUY MANIHDRA AND MAHINDRA FINANCIAL FUTURE ABOVE 354 TG 355.50, 357.50, 360 SL 351.45,
