We believe the risk-reward has turned favourable for long term investment as majorpart of the price wise correction (8%) is already over. Therefore, investors should use the current volatility in the markets to accumulate qualitystocks as we expect the Nifty to surpass the immediate hurdle of 17600 and eventually headtowards 18200 in coming months.
The S&P BSE Sensex rose 0.71% to 59,282.64. The NSE Nifty 50 advanced by similar magnitude to 17,686.90.
Read More: Sensex, Nifty Open Higher; Banking Stocks Lead Advance
The broader indices almost mirrored their larger peers with S&P BSE MidCap and S&P BSE SmallCap adding over 0.7%. All the 19 sectoral indices compile by BSE Ltd. advanced with S&P BSE Bankex rising 1.4%.
The market breadth was skewed in the favour of bulls. About 1,968 stocks advanced, 649 declined and 76 remained unchanged.
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