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Nifty may open July series on positive note, auto sales in focus

The market is likely to open July Futures & Options (F&O) series on a positive note as global market continued to rally. On Thursday the Nifty hit fresh 2016 high, rising 1 percent on short covering and value buying support from domestic institutional investors.

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The 50-share NSE Nifty ended at 8287.75 – the highest closing level since October 23, 2015 – on expiry day for June futures and options contracts, up 83.75 points or 1.02 percent from its previous day’s value but failed to hold 8300 level. The 30-share BSE Sensex ended tad below the 27000-mark, up 259.33 points or 0.97 percent at 26999.72 on support from banking & financials, FMCG, telecom and Tata Group stocks.

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