Market Macro Environment

Last week ended with the market gaining over 1% though it came under pressure on the last day of the week. Positive sentiment prevailed during the week as the commodities continued to remain under pressure with most of the industrial commodities down by double digit during the calendar. FIIs were net buyers of Rs. 31 bn worth of equity during the week. RBI cut interest rate third straight time to revive growth by cutting Repo rate by 25 bp. However, the governor was hawkish in his tone citing the possibility of a resurgence in inflation pressures and a high CAD it described as “by far the biggest risk to the economy” thereby capping the market gains. A report yesterday signaled Indian manufacturing expanded at a slower pace in April with HSBC PMI index falling to 51 from 52. Gains during the week were led by FMCG (7.5%) and Technology (4.4%).

As we go into next week market will be looking forward to BoE rate decision and initial Q1 GDP estimates for Indonesia and HK besides host of data from US and Eurozone. India too announces IIP for March and Export data for April. HDFC and NTPC are the major companies due to announce results next week. Out of 12 sensex companies that have announced results till date, only 2 have missed estimates. Outcome of Karnataka election which goes to poll on Sunday would also have a bearing on market sentiment. Currently BJP is at the helm. We expect markets to broadly remain range bound with profit booking emerging at higher levels.

Comments

Wizard of Dalal Street: Govind Parikh's investment mantra

Wizard of Dalal Street: Govind Parikh's investment mantra Govind Parikh of Govind Parikh Securities says selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says I like to buy things in a bad market. Additionally, don't look current cash flow, concentrate on future cash flows — that is what I look at," says Govind Parikh of Govind Parikh Securities. He advises investors to buy good quality stocks when the market crashes. While sharing his investment philosophy with ace investor Ramesh Damani, on the Wizards of Dalal Street, Parikh says management integrity is very important when deciding which stock to bet on. He tells investors not to buy stocks impulsively. According to him, selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says. He al...

Bank Nifty

Bank Nifty Bank Nifty is a Sell at Current Levels with a Stop Loss of 12,750 Once Below 12,400 the next major Support shall be only 12,000 Levels so a person can go short is bearish or buy putt if moderately bearish .

GST ........

In the biggest tax reform since Independence, the national sales tax or GST Bill was today approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into world's biggest single market. The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill. Prime Minister Narendra Modi said the GST will "also be the best example of cooperative federalism" and "Together we will take India to new heights of progress". The legislation was approved by the Upper House with 203 votes in favour and none against, after a seven-hour debate during which a rare bonhomie was witnessed among the ruling and the opposition parties. Replying to the debate, Finance Minister Arun Jaitley said the GST rate will be kept "as low as possible" but did not commit t...

Bulls & Bear Hfund of India

Search This Blog