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

“A truncated week in India with Ram Mandir “Pran Pratishtha” Ceremony on Monday and Republic day celebrations on the 26th , however not short of noteworthy events .Zee- Sony merger saga ending with a negative outcome ( Zee down 30% +), the banking sector weakness continuing with mixed number being reported by the large private sector banks ( HDFC Bank / Axis Continue the downtrend) .

The Election commission has announced the tentative date of Lok Sabha Polls , which will be tentatively held on April 16th.In terms of the global events there was a standout speech by Gita Gopinath of IMF to not be much optimistic of aggressive rate cuts by the FED in 2024 , at the time when consumer inflation in the US remains to be much higher than the FED target of 2% . FII continued to be sellers in the market this week . We expect the domestic and FPI volumes to remain tepid during truncated week , as most long only investors to stay defensive and wait for clear trading trends to emerge in the last week of January . The coming week will also be event heavy with multiple results and the interim budget on Thursday 1st Feb.

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