GST Roars; Market Soars

Market This Week

The market was highly dominating last week as stocks didn't give any chance to the investors to enter on correction. Those who bravely entered the market a few weeks back must be enjoying the returns now. This was accurately predicted by Niveza couple of weeks ago. Our prediction was based on the FIIs buying in the market and we had anticipated that market will not give any major correction to enter. The majority of the investors were delaying their buying as they were waiting for the right price to enter. But it is difficult to catch perfect price to enter. They failed to catch the rally and missed out on the short term returns.

Movers And Shakers

Core businesses were on the movers side last week. Sectors like Realty, Infra, Cement, Chemical charged the market last week. It would be unfair to say that other sectors have not contributed. However, a significant contribution has been seen from the select sectors as GST rollover could benefit a majority of them. Also, fertiliser stocks will gain if the cabinet meeting approves the subsidies. In anticipation, fertiliser stocks are charging ahead of the cabinet meeting. Sensex and Nifty touching higher levels as GST is confirmed and along with FIIs, DIIs also started pumping into the equities.

Key Market Drivers

This week, Indiabulls Real Estate, Talwalkar's Better Value Fitness, Edelweiss Financial Services Ltd, Dewan Housing Finance Ltd were in the driving seat. These stocks have outperformed the market in the recent past time, and have seen a positive upward trend. Among the banks all time favourite State Bank of India, ICICI Bank looked much stronger than earlier as price volume action has got stronger.

Event Watch

The most important event in the next few days is the Financial year ending results. Large caps will start to dominate the market with their results next week onward. While mid caps will take charge in the later period of the season. As previous quarter was badly hit by demonetisation, companies and investors are looking at better performance from Q4 and expecting the rally to carry on to the higher levels.

Stocks To Watch

Edelweiss Financial Services Ltd is on upside while Bharti Airtel is on downside.

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