Nifty

Indian stock market volumes continue to be moderate in derivatives despite steady gains in the market in the past few weeks. Nifty continues to trade at a premium to spot, reflecting the bullish trend and the open interest has improved in the market. Traders are expecting Nifty to move all the way upto 5800 incase it makes a move above the 5300 mark.

Indian stock market closed today with good gains particularly in the banking space. The market did not show any sign of weakness inspite of it being a friday and it also shrugged off the higher inflation number reported today.

Among the top performers of the banking stocks were the Indian banks including ICICI Bank, Federal Bank, Karnataka Bank and Kotak Mahindra Bank. Bankex moved up by 3.6%.