Powered by: Motilal Oswal
04-10-2023 04:49 PM | Source: Emkay Global Financial Services
Perspective on markets By Mr. Jaykrishna Gandhi, Emkay Global Financial Services

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

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

“As we had highlighted last week, the weakness in market has persisted but on account of local and global factors. Nifty decline 1.3% for the week but the bigger impact was seen in the IT space wherein the index declined almost 3% (driven by profit warnings by Accenture). The weakness in US wherein the theme of higher inflation for longer is getting traction along with record yields is further driving risk off across emerging markets. Job openings in US also increased which further supported the narrative that economy is proving to be resilient. We expect this earnings season to be of very high importance as commentary from management’s would be key especially with regard to demand and margin outlook as raw material prices increase driven by increase in crude price.

While there is no reason to panic with regard to the structure of the Indian markets there is some caution warranted in the near term. US 10 year treasury yields are closing 5% which will drive further outflows from the emerging markets.”


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