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Published on 7/11/2019 5:35:38 PM | Source: Religare Broking Ltd

Market Analysis for 7th November 2019 - Mr. Ajit Mishra

Posted in Expert Views| #Expert Views

 

Below is the Views On Market Analysis for 7th November 2019 by Mr. Ajit Mishra Vice President, Research, Religare Broking Ltd.  

 

The Indian markets witnessed highly volatile trading session and ended on a positive note. The Nifty index opened gap up and traded range bound throughout the day. Finally, the index ended 0.4% higher at 12,012. Amongst the broader markets, BSE Midcap and BSE Smallcap too ended in the green with gains of 0.7% and 0.5%, respectively. On the sector front, mixed trend was witnessed wherein Consumer Durables, Metals and Realty were the top gainers while Auto, Capital Goods and Oil & Gas were the laggards.  

We remain cautious on the markets as it is hovering near its peak levels, consequently some consolidation can be expected in the near term. On the domestic front, investors’ sentiments were boosted by recent government booster for real estate, which is also likely to benefit sectors like Banks and NBFC’s going forward. Globally market participants would keep an eye on progress on trade talks between US-China.

 

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