2024-08-31 02:43:49 pm | Source: Geojit Financial Services Ltd.
Weekly Market Outlook 30th August 2024 from Vinod Nair, Head of Research at Geojit Financial Services
Below the Weekly Market Outlook 30th August 2024 from Vinod Nair, Head of Research at Geojit Financial Services
"Despite a lack of fresh triggers in the domestic economy, the market has showcased a broad-based recovery and breached a new high, driven by domestic inflows and renewed sentiment on the FED rate cut in the September meeting. Consolidation in US 10-year yield along with outperformance in the IT index by 4% this week pointed to the possibility of higher spending, which is likely to increase the prospects of an upgrade in earnings. A positive shift in FII's stance towards the domestic market will keep the overall sentiment positive. Progressing monsoon season and increasing the capacity of reservoir level brighten the prospects of rural economy and will increase discretionary spending.
On the global front, an upbeat US GDP growth and an expectation of a steady US job market may push back the possibility of a deeper rate cut cycle by the FED. The Indian Q1 GDP growth is expected to be moderate, while investors are likely to remain watchful due to premium valuation and may keep their eye on defensive and value stocks"
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or
investment advice. Investments in financial markets are subject to market risks, and past performance is
not indicative of future results. Readers are strongly advised to consult a licensed financial expert or
advisor for tailored advice before making any investment decisions. The data and information presented
in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the
content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
Rainy Season Fashion: Stylish and Practical Outfit I...
Smart Lifestyle Choices That Save Money
Top Upcoming Electric Bikes in 2026: The Future of T...
Lessons From the World`s Most Influential Women
The Future of Wealth: Trends That Could Shape the Ne...
India`s space sector shifts to a 'state-startup deve...
Railways to implement Rs 1 lakh crore worth investme...
Q1 FY27 growth may surpass RBI`s 6.6 pc estimate if ...
Metroman E. Sreedharan`s Kerala rail project plan mo...
Government prescribes standard pack sizes for edible...
.jpg)
