Modi's Balm For The Market Bruises

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.

Event Watch

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.

 

ABOUT AUTHOR

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...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Government Goes After Willful Defaulters; Nifty & Sensex Up

Market This Week The government has cracked the whip on the promoters by putting restrictions on not only willful defaulters and those involved in fraudulent transactions but
Read More>>

Stop! Read Before You Invest In These Trending Stock Market Tips

Various popular stock market news portals and TV channels discuss trending stocks and provide free tips but without in-depth research. We create well-researched equity analysis on these trending stock tips in a single place so you don't waste your
Read More>>

Pension Plan Or Mutual Fund: What Works Best For Retirement?

"How much do I need for my retirement?" Every woke investor tries to find out an answer to this haunting question quite early in his/her life. On the other hand, there are those blissfully ignorant people who keep walking ahead in life without any
Read More>>

Midcaps Saved The Market With Last Hour Buying

Investors looked muted today as the market opened on a flat note and closed marginally on the positive side. Bulls and bears both looked aggressive today and kept market range-bound throughout the session. Midcaps looked stronger with last hour
Read More>>

Free Research Report - KNR Constructions Ltd

KNR Construction Ltd (KNRCL) is one of the leading infrastructure company
Read More>>