Indian indices on Wednesday closed sharply lower, tracking weakness in Asian markets, as investors grappled with concerns over tightening of monetary policy and recession fears
Stock market watch: What to expect from the week ending May 28, 2021
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Last Updated: May 24, 2021, 06:30 AM IST
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Synopsis
After months of rally, metal stocks took a beating in the past week and the trigger was the comment from China that it will strengthen its management of commodity supply and demand to curb any ‘unreasonable increase in prices’.
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The jump in global commodity prices have started reflecting in domestic inflation.
More intra-day volatility likely this week: With new daily cases going below the 3 lakh mark, the stock market got a breather on the covid front. The government’s plans to augment vaccine production and complete 95 crore vaccinations by the end of 2021 also improved market sentiments. Now the speculation is when the second wave-induced restrictions will be lifted. Once that happens, auto and consumer discretionary companies will be the main beneficiaries.