1046: Marketbuzz Podcast with Ekta Batra: Sensex, Nifty 50 likely to continue gaining streak

Indian equity benchmark indices — Sensex and Nifty 50 —  are likely to extend their gaining streak to the sixth day in a row on July 4, after a stellar five-day run.

The structure and momentum seem intact for the domestic market after it closed at a record high for the third straight session.

Overnight, the US markets eked out small gains in what was a truncated session. Asia, meanwhile, has largely fallen ahead of the Australian rate decision.

Oil is at around $74 per barrel, which rallied on Saudi Arabia and Russia supply cuts in August.

There is not much in terms of cues coming in for the global markets, but the markets will be watching out for the Federal Open Market Committee (FOMC) minutes that are due this week.

Overall, it seems as though the structure remains positive and the Nifty may attain highs at a steady pace.

Tune in to the Marketbuzz Podcast for more news and cues ahead of today’s session