Market Commentary: With the benchmark indices touching 52 week highs Says Anmol Das, Teji Mandi
Below Market Commentary Shared by Mr. Anmol Das, Head of Research, Teji Mandi
“With the benchmark indices touching 52 week highs and the Nifty Bank Index touching new all time highs, we remain cautiously optimistic advising investors to be agile and aware of the recent and upcoming macroeconomic events in order to make dynamic decision-making both ways. In the event of a sustainable rally and not to miss out on such opportunities, we advise to stay invested within the same portfolio while making stock specific decisions as per Q2 earnings. However, at these levels, we are equally aware of the downside of new stock entries as the earnings season is coming to an end, and there may be some profit booking in many sectors that have rallied significantly over the past couple of months. However, with a delinked view from the global economic scenario, the domestic economy has performed much better than expected in the 2nd quarter results, which will help the very fundamental valuations of Indian equities look more attractive than their global peers.”
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