Indian equities continued their uptrend for the second consecutive session on Tuesday with the Sensexrising about 350 points in two days. Positive global cues led the rally in today's trade. However, the market was lacklustre in the morning trade amid volatility.
According to Devangshu Datta, Consulting Editor at Outlook, it is almost certainly a technical pull back in today's and yesterday's trade including a fair amount of FII short covering or hedge fund short covering.
The 30-share BSE Sensex gained 156.77 points, to close at 16,498.47 and the 50-share NSE Nifty rose 50.1 points, to settle at 4,948.9.
Experts, however, warn that there may be selling pressure going ahead in short term.
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