The Indian markets were seen moving in a narrow range as bulls took a breather after a sharp rally in previous session. Sensex was seen trading at 16209 while Nifty was also trading slightly positive at 4862. Globally, the US markets closed at the highest level in five months while moderate gains in the Asian peers also keptthe investors on the sidelines. On the domestic front, Moody's upgraded its rating of the country's short-term foreign currency bank deposits to investment grade amid hopes of a rate cut by the RBI. In addition, the government notified 100 percent foreign direct investment in single-brand retail yesterday which supported the rise in the Retail stocks. Sectorally, all the 13 sectoral indices on the BSE were seen trading in the green. Realty, Capital Goods, Banking and Metals were seen ruling the market with gains of over three percent. Market breadth was in favour of bulls as three stocks were seen advancing against every single decline.
(Pic. Source- bseindia.com)
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