The National Statistical Office will release GDP growth estimates for March 2021 quarter as well as provisional annual estimates for 2020-21 on Monday. The Indian economy is estimated to show growth rather than contraction during January-March (Q4) of FY 2020-21, according to an ET poll.
Cyclicals will continue to surprise: Aditya Narain
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Last Updated: May 24, 2021, 01:12 PM IST
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Aditya Narain, Head of Research, Edelweiss Financial Services, says he is biased much more towards cyclicals. Edited excerpts from his interview with ET Now:
Why is the market so strong even as the earnings estimates for FY22 are challenged because of the medical crisis?
It is because of a combination of several factors. Both the global economy and markets are doing well and that is helping earnings in India through exports. The second thing is the easing off of the second wave of Covid. The third thing is that while there will be some risks to earnings from a demand perspective, we are doing reasonably well on the cost side. That said, you got to be watchful because the demand outlook has clearly faltered over the last month or so.
Vaccination, Q4 earnings, F&O expiry among key factors that will guide markets next week
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Synopsis The market will continue to focus on covid numbers to pump in more optimism into the market due to a relatively quiet week for economic data,” said Vinod Nair, Head of Research at Geojit Financial Services.
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NEW DELHI: Buying in banks and financials along with autos pushed benchmark indices higher by nearly three per cent last week which turned out to be one of the best weeks in the last four months.
Easing covid concerns, fluctuating global cues, and robust corporate results were the factors that drove the market last week. Amid inflation worries, Fed meeting minutes signalled a plausible slowdown in bond buying “at some point”, a shift in policy in the future, which will have an implication on EMs. However, that does not seem a near term concern.
Analysts said Nifty may witness further bounce if it manages to hold above this level. Can the index manage to take out the 15,300 level this week? Or will we see some more consolidation?