Domestic markets extended their gains on Friday, with the Nifty advancing 0.4% to close at 24,271, taking its weekly gain to 0.9%. Sentiment was supported by weaker-than-expected US labour market data, reinforcing expectations of Federal Reserve will keep interest rates unchanged. Analysts say Indian equities are expected to maintain a gradual uptrend, supported by favourable global cues and easing concerns over the US interest rate outlook. The ongoing June-quarter business updates are likely to drive stock-specific action, while investors will closely monitor the southwest monsoon after June rainfall remained 40% below the long period average.
STATE OF THE MARKETS
