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
Sensex, Nifty likely to be stock-specific in 2026, n...
FIIs stood as net sellers in equities as per January...
Oil and Gas Sector Update : Oct-Dec 2025 Earnings Pr...
MOSt Market Roundup : Nifty future closed negative w...
Quote on Nifty 07th January 2026 by Rupak De, Senior...
Quote on Gold 07th January 2026 by Jateen Trivedi, V...
Market Commentary (closing) for 07th January 2026 by...
Quote on Market Wrap 07th January 2026 from Mr. Ajit...
PayNearby becomes India`s first fintech to digitise ...
Quote on Closing Market Summary 07th January 2026 by...
More News
Quote on Morning Outlook 22 July 2025 from Mandar Bhojane, Senior Technical & Derivative Ana...
Quote on Nifty 29 July 2025 by Rupak De, Senior Technical Analyst at LKP Securities
Morning Nifty and Derivative Comments 07 March 2025 By Anand James, Geojit Financial Services
Technical Morning Ideas :Nifty, amid high volatility, witnessed a steep fall in the morning session to hit the low near the 247...