11-11-2023 05:15 PM | Source: Geojit Financial Services
weekly market outlook : The Nifty index was not able to breach above the key level of 19,500 Say`s Vinod Nair, Geojit Financial Services
Below the weekly market outlook from Vinod Nair, Head of Research at Geojit Financial Services.
"Reflecting the mixed global sentiments on account of a more than expected fall in Chinese exports, highlighting a continued slowdown in global trade, the Indian market is mired to a range bound trend. The Nifty index was not able to breach above the key level of 19,500. Though cues from the Fed Chair's speech have reduced the likelihood of a rate hike in the near term, leading to an ease in US treasury yields and calming the market. However, headline inflation remains above the US central bank’s target. FIIs selling has moderated but inflows continue to be muted on concerns of an elevated interest rate and a global slowdown. Mid- and small caps are back in favour after the recent fall, led by retail activities & good corporate results. Week ahead, focus will be on inflation data US and India, India's October inflation is expected to ease to 4.8 from 5%, while US inflation is expected to remain steady. "
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