Perspective on markets By Mr. Jaykrishna Gandhi, Emkay Global Financial Services
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Below Perspective On Markets By Mr. Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services
“The frontline market remains flattish while the broader market is showing weakness across small and midcaps. The Nifty exhaustion is a function of continued FII selling, slower of retail participation, higher DXY on firmer dollar and increasing crude prices. In our view the next catalyst the market is awaiting will the upcoming 2Q earnings wherein the management commentary will be watched for quite closely to get a sense for demand and margin profile especially in a scenario of potential increase in raw material prices.
Indian market weakness in addition to strengthening dollar has been the weakness in the US markets which are driven by concerns on another rate hike and inflation remaining sticky which can delay any expectation for a rate cut.
For the near term, with monsoon being slightly weaker than historical average and lack of positive catalyst the frontline market will remain range bound with potential negative bias.”
Above views are of the author and not of the website kindly read disclaimer
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