Markets touched an all time high today, the BSE sensex touched 136 points up at 36850, and the Nifty was up by 41 points at 11136. The European markets and the US futures recovered, one of the reason for recovery of stock markets.
The path of monetary policy will be back in focus as the European Central Bank meets to decide interest rates.Today mid cap stocks led the rally of the market. It is thought of in the market the bad times for mid cap is over and the valuations are fair. Cement stocks led the rally today maybe, the increasing Government spending might be there.Today Private Bank stocks came down, City Union Bank also dropped marginallyto 168.10 from 170.25.
Jyothy Labs is quoting after bonus of 1;1 at 224.70 A good buy, but better to wait till 1st of July due to the 1st qtly results.But still, markets seem to be not certain of movements. Investors are concerned due to the low buying of Foreigners for a long time. One has to see if rally will sustain. HDFC AMC IPO is opening on July 25th ie tomorrow. It is a good IPO managed by HFDC and it is worth applying for.
