Market rally backed by positive domestic data and global cues

Domestic equities surged higher, continuing last week's positive sentiment amid healthy 12 per cent growth in GST collection at Rs1.61 lakh crore for the month of June

Sentiments of investors are reinforced by positive domestic data and optimistic global cues, says Vinod Nair, Head of Research at Geojit Financial Services

Global market was supported by resilient economic data, avoiding the possibility of a recession. India's stock market trend was broad-based, owing to the outperformance from energy, financial, metal, and FMCG sectors, he said.

Economic activities are gaining strength with PMI level enlarging to 57.8, indicating sustained demand for products, fostering a sense of confidence in the manufacturing prospects.

Domestic equities surged higher, continuing last week's positive sentiment amid healthy 12 per cent growth in GST collection at Rs1.61 lakh crore for the month of June. Nifty continued its upward momentum driven by buying seen in index heavyweights. The index finally ended the session with gains of 133 points (+0.7 per cent) at 19,323 levels, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.