2024-12-13 06:09:21 pm | Source: Geojit Financial Services Ltd
Weekly Market Outlook: Friday`s surge in the market aided the indices to end the week on a positive note Says Vinod Nair, Head of Research at Geojit Financial Service
Below the Quote on Weekly Market Outlook by Vinod Nair, Head of Research at Geojit Financial Services
"Friday’s surge in the market aided the indices to end the week on a positive note. A rebound from the lows suggests that the buy-on-dips strategy is working well in the market. With inflation coming within the RBI's tolerance level and an expectation of further ease in food prices on account of seasonal corrections in vegetable prices, it could build up the expectation for ease in monetary policy in February.
A gradual recovery in IIP and core sector data is pointing towards a better H2 earnings performance compared to subdued H1 FY25. Currently, it is believed that FII selling has subsided, at least in the short to medium term, which will add further impetus to the sentiment. The Nifty IT index reached a new high and rallied around 3% during the week after US inflation data met expectations, boosting hopes for a Fed rate cut next week. For the week ahead we expect bottom fishing strategy to continue. While investors will also consider the US FED, BOE & BoJ monetary policy and US GDP data for further direction."
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