Muhurat Trading : Perspective by S Hariharan, Emkay Global
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Below are Views On Muhurat Trading : Perspective by Mr. S Hariharan - Head - Sales Trading, Emkay Global Financial Services
‘’With recent news on progress of an effective vaccine against covid-19, we appear closer to the end of a difficult period for society at large. Despite a year where governments have had to balance conflicting interests of physical well-being of citizens and economic stability, financial markets have largely worked efficiently in pricing risks and appear to point to an upcoming period of rapid progress. As the combination of fiscal and monetary stimulus kicks in along with a broad re-opening of the economy, we can expect earnings growth in the coming couple of years to be robust. Coming into FY20, Nifty EPS had grown at 4% CAGR over the previous 7 years - going ahead, FY20-23 earnings CAGR is estimated to be 15-16%. As a domestically oriented economy, we expect the coming year to be favorable for pro-cyclical sectors like Banks and Consumer Durables and for companies tied to a robust pick-up in construction activity - Cement, Real Estate, Metals and Road-builders. With contained inflationary pressures, we expect INR to have a strengthening bias and act as a headwind against export oriented sectors like IT Services.’’
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