Jan 06, 2017 | 04:09 PM IST
Jan 06, 2017 | 04:09 PM IST
Market This Week
The market this week cut the earlier losses where Sensex gained nearly 300 points while Nifty managed to add 100 points in just last couple of sessions. But FIIs are still out of the party while DIIs are adding every day into the equities. Which to some extent has kept the market afloat.
Movers & Shakers
Recent credit sops by the Prime Minister Narendra Modi and cut in lending rates by banks may boost the economy in long term. Midcaps may continue to outperform through the year. Most of the data is awaited which can start triggering the market in the near term market. On the other hand, Indian IT giants like Infosys, TCS, Wipro dragged during last week as two American lawmakers have reintroduced a bill that seeks to further place stringent conditions on H-1B visas, the key work permit for technology companies.
Key Market Drivers
The momentous changes of 2016, both local and global, have not played out fully yet, and there continues to be a significant policy risks and uncertainty. The GST Council in its concluding two-day meet has reached a stalemate on dual control between Centre and states. With no consensus being reached in the all-crucial meet, the implementation of the Goods & Service Tax (GST) bill on April 1st looks almost impossible. The states have been demanding a compensation of Rs. 55,000 crore in case of any losses. The centre is pitching for control over services.
Banks have joined the party of gainers as both public and private sector banks have gained the momentum as nearly INR 15 lakh crore already have been pumped in to the banks post demonetisation. State Bank of India, ICICI Bank, Yes Bank looking much stronger than earlier. Demonetisation’s shadow loomed large over Goods and Services Tax (GST) roll-out discussions as states struck a hard bargain on Tuesday demanding extra compensation to offset tax revenue losses in wake of the currency culling move.
Stocks To Watch
Uflex Ltd is on up side while Infratel is on down side.
Niveza Research Desk :
We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While...
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