Mumbai: Sensex touched a new closing high at 24,858.59 up 173.74 points after RBI kept its policy rates unchanged and expressed confidence that the Narendra Modi government could handle the upside risks to inflation due to domestic and global conditions. The Nifty was up 53.35 points at 7,415.85. Kishore P. Oswal, chairman and MD, CNI Research Ltd said the market has taken the good synergy between the finance minister and the RBI governor positively and he expects stock specific action in coming days.
“PSU stocks are getting more attractive after talk of brining PSUs under one umbrella and the Nifty will test some resistance at 7,500 and support at 7,330,” he said. The Bank Nifty reversed after Monday’s big gains while realty stocks surged in second half of Tuesday’s session. “We expect downward pressure on the Bank Nifty while Realty looks likely to continue its bull run witnessed on Tuesday,” said Kiran Kumar Kavikondala, director and chief executive officer, WealthRays Securities.
