Infy Drops 4%; Hopes Pinned On Midcaps

Apr 14, 2017 | 05:05 PM IST

Market This Week

The market continued to rally despite negative global cues during the first half of the week but corrected marginally due to fresh short positions in the market. Expectations are leaning towards a minor correction in the market which could be a better entry point for the investors who have been waiting long to enter. In another news, the earning season kick started on a flat note with IT giant Infosys. Though the company reported profits and have promised dividend to the investors, stock saw a major drop.

Movers And Shakers

Infosys fourth quarter earnings barring bottom line missed analysts' expectations on Thursday. Even its FY18 guidance was lower than estimates but the announcement of Rs 13,000-crore payout through dividend or share buyback during the year and fall in attrition rate minimised losses in the share price. The stock fell 2.88 percent intraday. However, it is expected that IT giant will start its upward trend in the next quarter or two.

Key Market Drivers

Midcaps continued their rally with a positive bias. Large caps looked marginally poised last week. Banks, Autos, IT, Pharma all large caps looked deserted. Among the midcaps, same sectors were on performing side. Housing finance company Indiabulls Housing Finance rallied nearly 17-18% in few trading sessions. NBFCs and financial services are booming, Edelweiss Financial Services is in the strong rally and expected to continue the same in the coming quarters. In other news, post anti-dumping news, steel stocks are looking much stronger than before.

Event Watch

Post demonetization hit quarter, all eyes are on FY end results. Quarter earnings kick-started by Infosys on a flat note. There is hardly any hope from IT giants as far as earnings are concerned. Banks also used to be flat in this audit quarter. But autos and infra are expected to do well in the earnings. FIIs are still in buying mood in Indian equities.

Stocks To Watch

Indiabulls Real Estate is on the upside while Wipro is on the downside.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to pave a smooth road for our clients in the shaky world of stock market. While...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Profit Booking Dragged The Market Down

Share Market News - 28th April-2017 Today’s market opened negative and ended flat due to profit booking and increasing worries over the conflict between the USA and North
Read More>>

Nifty, Sensex At All-Time High; Banks Shine

Market This Week The market is moving in an exactly opposite direction as what majority of the investors are anticipating. The high point of this week was that Sensex and
Read More>>

Free Research Report - Uflex Ltd.

UFLEX Limited is an India-based
Read More>>

Big Boys Of The Indian Stock Market - Part 2

In our pursuit of finding value investors other than Rakesh Jhunjhunwala, in the previous
Read More>>

Market On A Correction Mode

Share Market News -  27th April-2017 Today’s market opened negative and ended flat due to profit booking. Sensex lost 103.61 points to 30029.74; Nifty lost
Read More>>