"The demand is almost as good as pre-COVID times, almost in some countries, of course, there are one or two pockets here and there which could be a bit different but generally, people want to work."
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Nifty futures on the Singapore Exchange traded 2 points, or 0.01 per cent, higher at 14,684.50 in signs that Dalal Street was headed for a flat start on Tuesday. Here are a few stocks which may buzz the most in today s trade:
Adani Ports, L&T Infotech: Adani Ports, Adani Total Gas, L&T Infotech, P&G Hygiene,
RBL Bank, Morepen Labs, DCM Shriram, IIFL Securities,
Greaves Cotton are among companies which will report their March quarter results on Tuesday.
IDBI Bank: LIC-owned IDBI Bank reported a nearly four-fold jump in its standalone profit after tax to Rs 512 crore in the March quarter compared to Rs 135 crore in the year-ago period on the back of an impressive 38 per cent growth in its net interest income (NII).
It seems like the market is reacting to medical news as a trigger point and pricing it in.
Absolutely. We all know that in the next one or two months, we are going to be back. But we will realise the extent of the damage caused as time goes by. Right now, there is already a talk that 30 bps on GDP has been taken off. My guess is the market is trying to say that we will see downgrades in earnings from the previous expectations. The quarter one numbers, which would have looked just out of the world considering the lockdown last year, are going to be diluted and more so because this time we are seeing a spread across the length and breadth of the country unlike last year when we saw a majority of the cases being in metros. The earnings downgrade is one part of the story. The market is trying to digest that. The market had run up based on a very strong recovery and earnings valuations were rich. As that recovery gets diluted a little bit, the market is settling down to trade in a ran
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If there is a global correction, we would have better opportunities. So look for opportunities but be a bit cautious too, says
asksandipsabharwal.com.
Does not seem like the near term price damage is quite done. A print of 14,400 on Nifty so far is not looking convincing. Then there is that looming fear of a corporate tax and capital gains tax hike by the Biden government in the US which is spooking the world markets.
We need to distinguish between economic recovery and what happened in a particular country. Capital gains is more of a US issue and its impact outside the US should be limited. However, what we need to be concerned about in India is uneven global economic recovery and the impact of that on the funds flow into India from foreign investors. Over the last many weeks, foreign funds have been steadily selling in India. March had good inflows into insurance companies and mutual funds also got flows. A part of that is getting deployed in the markets today. We
Nifty has to decisively cross and hold above the 15,000 mark to witness a bounce towards 15,150 and 15,250 levels, while on the downside major support exists at 14,750 and 14,600 levels.