Perspective On the market By Joseph Thomas, Emkay Wealth Management
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Below are perspective On the market By Dr. Joseph Thomas, Head of Research, Emkay Wealth Management
“After a fairly volatile session, the markets closed in the positive territory reflecting the inherent uneasiness in taking a definitive direction ahead of the weekend. While the frontline indexes closed marginally positive, the midcap index closed flat and the small cap index closed 1 % higher. Metals lost heavily followed by marginal losses in auto and capital goods. While recovery from the pandemic is being taken as positive, the potential threats from the delta variant and the damage that it may cause which is still in the realm of speculation, is causing some consternation, as in certain parts of Europe it is reported that it is on the rise. This may dampen the sentiments a bit in the coming weeks depending upon the extent of its spread as the holiday season is on in most part of the Northern Hemisphere. The talk about the likely Fed action especially like how soon it could result in higher rates is also adding to the uncertainties about the future. While these themes may dominate, the realities of the high commodity prices , especially oil prices, and the consequent inflationary pressures would also play on the minds of the market participants in the immediate future.”
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