The Indian market is likely to continue its winning streak with the SGX Nifty trading in green, up almost 60 points to 8232 early Friday morning. The Nifty added over 100 points to close above 8,150 yesterday. The positive momentum may be due to anticipation of more reforms from the government. Short covering-led buying interest in stocks post Fed meet outcome helped the Sensex snap five-day losing streak on Thursday. Not only equity but also the currency and crude oil prices rebounded from their multi-month lows. The 30-share BSE Sensex reclaimed 27000-mark, up 416.44 points or 1.56 percent to close at 27126.57. The 50-share NSE Nifty ended the session above 8150, up 129.50 points or 1.61 percent at 8159.30.
Today, market will watch for - the mid-year review of the economy scheduled for today. Expectations are that the review could see the range of gross domestic product (GDP) growth estimates being cut from 5.4-5.9 percent, to 5.4-5.7 percent. The streets will also want to hear how the government plans to meet its stiff fiscal deficit target of 4.1 percent of GDP by the end of the year.
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