Markets see a positive start ahead of June F&O expiry; Nifty nears 9,550

Benchmark indices saw a positive start in line with Asian Markets after Wall Street ended higher in overnight trade ahead of the June F&O expiry. Gains were however capped after hawkish comments from major central banks signaled rate hikes and that the era of stimulus might be coming to an end. In Britain, Bank of England Governor Mark Carney surprised many by conceding a hike was likely to be needed as the economy came closer to running at full capacity. Mario Draghi had earlier said that stimulus might need to be toned down so it does not become more accommodative as the economy recovers.  Commodity Trading Tips

 At 9:17 am, the S&P BSE Sensex was trading at 30,976, up 142 points, while the broader Nifty50 was ruling at 9,535, up 46 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.6% each. "Yesterday’s upwsings were restrained on anticipated lines, but equally significantly, the pull back thereof failed to gain momentum, hinting at the prospects of stronger upsides today. Such a move needs confirmation, and a break above 9540 could be taken as the initial indication. Alternatively, direct fall below 9470 should bring the downside objectives of 9370 or 9280 firmly in play," said Geojit Financial Services in a note. Nifty Trading Tips