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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Robust Economic Growth Will Keep Market Resilient, Say Analysts

OMMCOM NEWS by OMMCOM NEWS
April 10, 2024
in Business
Robust economic

New Delhi: Robust economic growth, decent corporate earnings, macroeconomic stability, expectations of political stability after elections, sustained capital flows, and retail investor enthusiasm will keep the market resilient despite rich valuations, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

A recent healthy trend in the market is the outperformance of the fundamentally strong large caps over the mid and small caps. This trend is making the market healthier and, therefore, has the potential to continue. Largecap banking stocks are likely to be the leaders if the rally sustains, he said.

The US CPI data to be published today (Wednesday) is significant since that will determine the quantum of rate cuts by the Fed this year. The fact that US inflation has come down by two-thirds is significant and positive from the market perspective, but the trajectory of inflation, going forward, will largely influence the direction of stock markets, globally, he said.

Deepak Jasani, Head of Retail Research, HDFC Securities, said Asian stocks traded cautiously ahead of key inflation data that will influence the outlook for the Federal Reserve’s next steps. US stock indexes ended nearly flat on Tuesday, stressed by financial-sector stocks as investors awaited a key inflation reading and prepared for major banks to start earnings-reporting season later this week.

BSE Sensex is trading at 74,901 points, up by 218 points. Tech Mahindra, Bharti Airtel and Kotak Mahindra Bank are up more than 1 per cent.

(IANS)

Tags: V K Vijayakumar
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