Below are Views On Weekly market outlook By Vinod Nair, Head Of Research at Geojit Financial Services
Easing covid concerns, fluctuating global cues, and robust implications on corporate results are the factors that drove the market this week. Amid inflation worries, Fed meeting minutes signalled a plausible slowdown in bond buying “at some point”, a shift in policy in the future, which will have an implication on EMs. April’s wholesale inflation reached record levels at 10.49% as high fuel costs weighed on the economy.
The Indian market has started to outperform the development market which is expected to continue due to a fall in COVID cases. High cases were the reason for India to trade weak, now INR has started to appreciate. The entry of new vaccines in the market which will ease supply crunch and a steady decline in the new covid cases are factors boosting investor confidence in the market. Hence the market will continue to focus on covid numbers to pump in more optimism into the market due to a relatively quiet week for economic data.
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