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Below Perspective On Markets By Mr. Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services

“Overall Indian markets (Nifty) have remained flat (week on week) barring today’s uptick which resulted in nifty making new highs. Bank nifty has under-performed during this period and is poised to lead the rally into July on back of the HDFC merger. The US markets continued the positive data with consumer confidence climbing to highest levels since January 2022, new home sales jumped 12.2% to highest levels since February 2022, and lastly home prices were up 0.9% in April for the top 20 cities in US. The above data increasing makes a case that while there might be another rate hike, but increasingly the odds of recession are reducing making way for a soft landing. This is reflected in the market buoyancy, which eases concerns on the EMs. Crude prices have remained stable to weak despite the Russian coup attempt, weaker crude prices are largely driven by poor China macro as compared to global health being questioned.”

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