Published on 10/01/2018 12:36:43 PM | Source: IIFL Ltd
The market`s future course will be charted by corporate earnings and the Budget - IIFL
The World Bank has projected India's growth rate at 7.3 pc in 2018 and 7.5 pc for the next two years. It stated that with an "ambitious government undertaking comprehensive reforms", India has enormous growth potential. The domestic market is in no mood to mellow down yet. It hit fresh record closing highs after a rangebound session on Tuesday even as broader indices ended lower. The market's future course will be charted by corporate earnings and the Budget.
The outlook is a positive start. Asian shares are near their 2007 highs. Apollo Micro Systems IPO opens today. The Union Cabinet may review FDI policy for some sectors such as construction and single brand retail. Oil prices are at their highest levels since 2014 due to OPEC-led production cuts; this could trigger worries for India.
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