Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Post Market views - Sep 16, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Posted On: 2021-09-16 18:11:26 (Time Zone: IST)


Domestic equities extended gains with benchmark Nifty and Sensex recording fresh all-time high amid mixed cues from global equities. Financials have been in focus today especially PSU Banks ahead of possible announcement on bad bank in Finance Ministry's press conference scheduled today. Nifty Bank surged over 2% today followed by Nifty FMCG index. However, IT, metals and Pharma witnessed some amount of profit booking, while buying momentum in midcap stocks remained visible. Notably, volatility index soared over 5% today. Sharp rally in last two days resulted in investors' wealth growing over Rs3 trillion. IndusInd Bank, ITC, SBI and RIL were among top Nifty gainers, while Grasim, TCS, Shree Cement and Tata Steel were laggards.

A strong rebound in FIIs flow in last three days (bought over Rs32bn equities in two days) augured well, which led Nifty to record fresh all-time high. Unlike developed markets, faster ramp-up in vaccination process and relatively lower daily caseload offer India an edge over other markets and therefore domestic bourses are resilient despite pressure in global equities. Additionally, we continue to believe that high frequency key economic indicators for Aug'21 in the form of GST collection, railway freight, auto sales volume despite semiconductor issues, power consumption, import-export data and fuel volumes indicate a sustained economic recovery on YoY comparison. Further, July month IIP at 11.5% (higher than consensus estimate) almost reaching to pre-pandemic level also offers comfort. Further, ease of retail inflation at 5.3% for August bodes well as this should essentially aid RBI to maintain its soft monetary policy stance to support ongoing recovery in economic momentum. In our view, while 1QFY22 GDP growth 20.1% indicating a sharp recovery, there has been sharp contraction in sequential comparison due to second wave of COVID-19 and growth is still lagging from pre-pandemic level. Hence, economy still needs policy support from government and RBI, which is likely to persist. India is at the beginning of capex revival phase and therefore corporate earnings recovery looks sustainable and premium valuation might sustain. Additionally, government's focus to improve credit growth through credit outreach programme and continued traction in PLI schemes augur well for domestic economy. While concerns over global growth due to recent rise in delta variant Coronavirus cases in different parts of the world continues to persist, we believe that underlying strength of domestic market remains intact. In our view, festive demand, recovery in rural demand and COVID-19 positivity rates will be in focus in the near term. We note higher government's capex and revival in industrials' capex should aid economic recovery. However, liquidity driven market may take a backseat in 2022 and investors must start focusing on quality aspect of companies, in our view.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Daily Market Wrap - Oct 25, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Investors are advised to keep strict stop loss to their positions - Mr. Rahul Sharma, Co-Founder, Equity99

Post Market views - Oct 25, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 25, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - October 23, 2021 - Weekly Wrap - Reliance Securities

Daily Market Wrap - Oct 22, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Oct 22, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 22, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Oct 21, 2021 Outlook - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Pre Market views - Oct 21, 2021 - Mr Binod Modi, Head Strategy at Reliance Securities

Daily Global Market Update by Kristal.AI - Oct 20, 2021

Rupee - October 20, 2021 Outlook - Reliance Securities

Pre-Market views - Oct 20, 2021 - Mr Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 19, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 19, 2021 - Bonanza Portfolio

Post Market views - Oct 19, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 19, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Oct 18, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Daily Market Wrap - Oct 18, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Oct 18, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 18, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Oct 18, 2021 - Outlook - Reliance Securities

Daily Market Wrap - Oct 14, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 14, 2021 - Bonanza Portfolio

Post Market views - Oct 14, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 14, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - Oct 13, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 13, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Market in a strong position, a good move is expected from Banks, Automobiles and IT sector

Rupee - Oct 13, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Daily Market Commentary - Oct 13, 2021 - Bonanza Portfolio

Technical View - Oct 13, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Daily Market Commentary - Oct 12, 2021 - Bonanza Portfolio

Daily Market Wrap - Oct 12, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Oct 12, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Post Market views - Oct 12, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 12, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Daily Market Wrap - Oct 11, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 11, 2021 - Bonanza Portfolio

Technical View - Oct 11, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Post Market views - Oct 11, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Weekly Wrap - Oct 9, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Daily Market Wrap - Oct 8, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 8, 2021 - Bonanza Portfolio

Post Market views - Oct 8, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

The market will look for RBI Governor's commentary - Mr. Rahul Sharma, Co-Founder, Equity99

Daily Market Commentary - Oct 7, 2021 - Bonanza Portfolio

Daily Market Wrap - Oct 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Oct 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 6, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020