Market View: 13-17 NOV 2017

Filed in Market Update by on November 14, 2017
Week Market View: 13-17 NOV 2017
View Last week the NIFTY closed at 10321.75 registering a loss of 1.25% over previous week. This could primarily be attributed to rising crude price and weakness in rupee. The earnings season was above the expectations of the markets, no major impact of GST roll out was seen. This week around 400 companies would announce their results. The market seem to euphoric about the cut in the number of items in the 28% GST slab. It also remains optimistic on the way GST is being fine-tuned. We remain positive on the markets, there has been initiatives from the government to boost growth, PSU banks are looking good after a long time and the domestic liquidity has been at its peak. We seem to be no longer dependent on the FII’s. The only immediate worry could be rising crude prices and rise in fed rates. This week we expect the markets to consolidate before they again hit fresh highs. Nifty will take a good support at 10250. All the best!

Comments are closed.