Sensex may rise further on FII support

The domestic equity market is likely to a see smart rally in the coming week.

The domestic equity market is likely to a see smart rally in the coming week,driven by robust foreign institutional investment (FII) interest and strength in the global market,say analysts.

Better-than-expected GDP data and easing food inflation helped the Bombay Stock Exchange benchmark Sensex gain 4.33 per cent,or 830 points last week to settle a little below the psychological 20,000 mark.

“Market is expected to remain sideways for the first two-three sessions and then continue the rally,especially with firm global markets and FII buying back home in view of the weakening dollar,” Religare Securities Executive Vice-President Rajesh Jain said.

Analysts have also asserted faith in commodities,including metals and crude,who are also likely to trigger the upswing on Dalal Street.

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