India’s stock benchmarks jumped over 1% on Monday, led by gains in bank shares after ICICI Bank’s better-than-expected fourth-quarter results. The market may be on course to scale records though the spike in the Volatility Index or VIX, a fear gauge, shows that traders see risks to equities at current levels. The outcome of the US Federal Reserve’s rate-setting meeting on Wednesday is expected to determine the direction of equities in the foreseeable future.
Tech View: Nifty on Thursday ended 144 points higher and formed a high-wave type candle pattern. Larsen & Toubro raises Rs 1,500 crore through NCDs. US stocks open higher on hopes of the end of Fed’s rate hikes. Oil gains 1% after Fed keeps rates unchanged. Pound rises after Bank of England holds rate steady. Akzo Nobel India reports a 44% increase in net profit. Tata Motors reports Q2 results with a rise in revenue. Adani Enterprises reports a 848% growth in net profit in Q2.
Santosh Meena, Head of Research at Swastika Investmart, discusses the current state of the Indian stock market and provides insights into the outlook for the Nifty and Bank Nifty. He also shares his views on the upcoming earnings season and the prospects for various sectors. Additionally, Meena discusses the impact of interest rates on investment flows and provides advice on specific stocks for investors.
