There are strong headwinds, both globally and domestically, that can impact the market in the near-term, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said.
Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore.
Domestically, the major headwind is the rising inflation, he said.
July CPI inflation has ...
Indian markets face strong headwinds
Below The Perspective on CPI data by Ms. Madhavi Arora, Emkay Global Financial
“The bulk of the increases is being seen in perishables, like vegetables, which, given the surge in tomato prices, has produced the highest sequential monthly print on record. Non-perishables in the food basket are also seeing consistently higher prices, in particular cereals, pulses, and spices. Until early august there were no signs of any sequential moderation in food prices, However, the Govt int...
Perspective on CPI data by Ms. Madhavi Arora, Emkay Global Financial
The Nifty reached a new record high of 19,567 intraday on Thursday, but couldn't hold on due to selling pressure, resulting in a significant decline by the end of the day, said Rupak De, senior technical analyst at LKP Securities.
Vikram Kasat, head advisory, Prabhudas Lilladher, said Nifty Index made a higher high in Thursday’s session, whereas the BankNifty Index is still significantly below the previous high, leading to inter-market divergence in the short term.
PSU banks s...
Bank stocks selloff drags down Nifty from all-time high
