Quote On Nifty : Nifty reclaims 18K Says Suman Bannerjee, Hedonova
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Below Quote On Nifty By Suman Bannerjee, CIO, Hedonova
The markets are going higher on decreasing daily volume at a time when institutional investors are exiting. 18000 is a landmark number but I do not think it will sustain when the Q2 results start coming in. The second quarter experiences a weak rupee and high inflation; coupled together it means that input costs of firms were exorbitantly high with no time to pass on these costs to customers. Earnings will probably drop by around 6% which will in turn pull down valuations of large-cap stocks.
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