Market Bullish, Make Hay While The Sun Shines

Market This Week

Market started on a negative note this week due to the panic caused by the Monetary policy. However, the RBI Governor kept rates unchanged and there werent any surprises. Investors were waiting for the RBI Policy event to pass before taking fresh position in the market. Thursday and Friday were bullish days as Nifty surged by more than 200 points adding more optimism.

Movers & Shakers

With the launch of its first ever Electronic Vehicle - Tigor, Tata Motors gained 3% this week after hitting a low of Rs.399 per share. The automaker also reported a 22% increase in its global sales (including JLR) for November, 2017.

IRB Infrastructure Developers hit its 11 months low on December 7, 2017, after CBI filed charge sheet against the senior officials of the company and its subsidiary- Aryan Infrastructure Investments Pvt Ltd related to the illegal purchase of government land in Maharashtra.

Key Market Drivers

DIIs are strongly supporting the Indian market. FIIs are still net sellers. Post RBI policy, investors are actively entering in stocks factoring in the Gujarat elections that would take place next week. Poll results will be driving the market in the coming week.
.

Events To Watch

Gujarat election is the strongest driving event of this month. The home ground battle is very crucial for the Prime Minister and the opposition hasnt left any stone unturned to stay in the race. Importance of this election is that this is the beginning of the 2019 elections and could be one of the major deciding factors as well.

US Fed could go aggressive with their rate cut. Numbers go in favour of a rate cut for US Fed. However, the Fed President hinted few more rate hikes in the next year. But retail investors have already started taking fresh positions in the market.

Stocks To Watch

Reliance Industries is on the upside while
Greaves Cotton is on the downside.