Inflation and rising Covid-cases are haunting investors. Besides, PM Modi has decided to withdraw the farm laws in the upcoming Parliamentary session. How will these affect the markets? Find out here
The benchmark Sensex index erased over 1,000 points, or nearly two percent, last week to end at 59,636. The Nifty50, too, declined two percent to settle at 17,765.
This sell-off was triggered as a flare of new Covid-19 cases world-over made investors cautious on the global economic recovery.
Meanwhile, back home, multiple rating downgrades by global brokerages, coupled with margin pressure faced by India Inc in Q2, worried investors.
Going forward, as trading sentiment is expected to remain subdued this week too given the absence of fresh triggers, analysts suggest investors accumulate quality stocks at lower levels.
Overall, central bankers’ commentary on interest rates and inflation, bond yield trajectory, foreign fund flow, and monthly Futures and Options expiry will steer the indices this week.
In the primary market, the Rs 1,013-crore initial public offer of Go Fashions will close today. So far, the issue has been subscribed 6.8 times with retail investors’ portion seeing a subscription of 24.6 times. That apart, Parsons Products may also debut on the bourses later this week.
In another development, Prime Minister Narendra Modi on Friday announced the repeal of all three controversial farm laws.
No comments:
Post a Comment