28-12-2024 01:44 PM | Source: Geojit Financial Services Ltd
Weekly Market Outlook: Due to a lack of significant catalysts, the market closed flat with a positive bias this week Says Vinod Nair, Head of Research at Geojit Financial Service
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Below the Quote on Weekly Market Outlook by Vinod Nair, Head of Research at Geojit Financial Services
"Due to a lack of significant catalysts, the market closed flat with a positive bias this week. Strong performances in heavyweight sectors such as banking and pharma helped offset declines in the IT sector, providing support to the major indices. Mid and small-cap stocks also ended on a flat note. Persistent concerns over FII outflows and the depreciating rupee, along with potential adverse tariffs and reduced expectations for rate cuts in 2025, contributed to the muted market trend. Uncertainty surrounding Trump's economic policies and high valuations may impact the stock market in the short term, particularly in emerging markets. The rising USD and US bond yields are prompting FII outflows, although the easing quantum of these outflows offers some relief.
Looking ahead, significant market attention is expected for the upcoming Q3 results, which will play a crucial role in shaping market trajectory. Investors are likely to align their portfolios based on pre-budget expectations. Additionally, key data points such as the PMI data for India, the US, and China, as well as US jobless claims, will influence investor sentiment. The auto sector is likely to be in the limelight, aided by an expectation of a pickup in volumes in December and comfort in valuation."
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Indian share markets to remain range-bound after flat performance this week
Weekly Note : The markets witnessed consolidation last week, gaining nearly 1%, as the Nifty and Sensex closed at 23,813.40 and 78,699.07, respectivelySays Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
