Market View: 3-7 SEP 2018

Filed in Market Update by on August 27, 2018

 

Week Market View: 3-7 SEP 2018
View Last week the NIFTY closed at 11680.50 registering a gain of 1.07% over previous week. The second half of the previous week was not a great one where the NIFTY corrected a bit. Rising crude prices, weakened rupee (the rupee has fallen to a historic low of 71) and selling in midcaps are some of the reasons that could be attributed to the fall. But the fact that NIFTY has scaled 11700 is something to rejoice. This week the GDP numbers for the first quarter of FY19 will be something that investors will react positively too. A multi-year high growth is something that the markets will definitely react to. However in the hindsight there will be some negative sentiments around GST collection which has fallen by 2523 crores when compared to the collections last month. There would also be eyes on the auto sales figures especially from Maruti and Eicher motors after the Kerala floods. The F&O rollover data is suggesting that the September expiry is not likely to be as positive as the August one. Let’s wait and watch how this month turns out to be. We have nothing to really worry about and there is a still a good possibility of an up move but sustaining those highs will be a challenge in the short term. Let’s have a disciplined and cautious approach. All the best!

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