Market View: 3-7 JUL 2017

Filed in Market Update by on July 3, 2017
Week Market View: 3-7 JUL 2017
View Last week the markets closed at 9520.90 registering a loss of 0.56% over previous week. This was the third consecutive week where NIFTY registered a loss though they were all minor losses. This week marks a new era in the Indian markets with the commencement of GST, one of the biggest tax reforms till date. GST is likely to do more good to the economy as a whole, how it would impact the markets, we will see with time, but the highest impact of GST would be seen in the next two quarters. The earnings season would be starting soon and a small correction could be seen in case the earnings are not up to the mark. It must be noted that the rally that we have seen so far is partially because of earnings and partially because of falling rates as well. So we do not expect any big correction even if the earnings is not up to the mark, though good earnings will certainly fuel the rally further. For now the markets will continue with the consolidation for some more time. We have nothing really to work. These are good markets for investors. 9450 will be good support for NIFTY. All the best!

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