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

“Nifty rallied last couple of days as fears around geopolitical concerns were absorbed by the market. The nifty gained 1.5% for the week driven by frontline stocks like Reliance and HDFC. The market also found support by the comments from Fed officials which hinted at a lower probability of rate hike going forward. The Indian market will kick off the earnings season with TCS today which is expected to have a muted quarter. Near term, the market despite geopolitical concerns seems on a strong footing and we believe front line stocks like Reliance, HDFC bank and FMCG names could drive the Nifty higher. IT overall should remain weak earnings but a lot will depend on the 2H commentary with regard to global tech spend which can drive interest back into IT. Autos should report peak earnings especially for the likes of Maruti while Cement space should benefit from absorption of price hikes.“

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