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08-03-2022 03:41 PM | Source: Emkay Global Financial Services Ltd
Market Quote : Market has rebounded strongly with a turn in the trajectory of foreign investor flows Says Mr. S Hariharan, Emkay Global Financial Services
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Below is quote on Market by Mr. S Hariharan, Head - Sales Trading, Emkay Global Financial Services

“Market has rebounded strongly with a turn in the trajectory of foreign investor flows – the last 4 sessions have seen FPI inflows of nearly $1 bn. A perceived pivot in the Fed’s tightening cycle and cooling off of crude oil prices have made the macro environment more favourable for India, which has outperformed EM and Asian peers by 6% in the last week.

Banks and Autos have attracted strongest flows while IT has been an under-performer. Going forward, the gap in valuations between Nifty and MSCI Emerging Markets index, as well as the gap between the earnings yield of Nifty vs 10 year G-Sec yield, would be adverse factors and we can expect market returns to be more muted. A pull-back towards the technical support at 200-day moving average at 17000 is possible.”

 

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