Last friday China Cuts the Interest rate for the sixth time in this year. Global Markets cheered on last friday. We could expect one more sentimental Gap Up on Monday in Nifty and Bank Nifty futures this attempt could try to close the professional gap created in Nifty Futures at 8358 and BankNifty Futures at 18240. SGX Nifty is already indicating a positive momentum. Both the daily Sentiment and Weekly Sentiment tends to remain positive.
This week is expiry for derivative markets with dried up volatility and Nifty spot managed to close above 7900 on weekly basis for the very first time .India’s Q2 GDP data and Fiscal Deficit data(Macro Economic data) scheduled during this week on August 29. So far FII’s had more close to Rs 98,802 crore this year in bond market compared to Rs 76,705 crore in equity market.