IGI Logo

Quote On Morning Market 19 April 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Rumours of overhaul of capital gains tax led to selling in the market during the afternoon session. With the government clarifying that there is no such proposal this rumour has been laid to rest. For the near-term, there are no triggers that can take the market sharply up or down. So expect a brief consolidation phase for the market. Within this consolidation phase there will be impressive moves in individual stocks. In the results expected this week the best performance is likely to come from ICICI Bank. HCL Tech is unlikely to disappoint like Infosys. RIL’s results will be good but unlikely to surprise the market. Investors should closely watch the results that surprise on the upside along with positive management commentary. Such stocks will remain resilient even in a weak market.

Above views are of the author and not of the website kindly read disclaimer