Market View: 5-9 JUN 2017

Filed in Market Update by on June 5, 2017
Week Market View: 5-9 JUN 2017
View Last week the NIFTY closed at 9653.50 registering a gain of 0.61% over previous week. The markets have continued to display their strength. The market participants are all awaiting a correction but that’s not happening. A lot of money is flowing in the Indian markets and hence the markets are not really worried about valuations, GST implementation, global threats etc. The earnings season is coming to an end and we will see the markets trying to settle down a bit form here. Participants could also react to the GDP numbers as the Government unveiled GDP figures for the May end quarter. We have seen a lot midcaps correcting in the last couple of weeks but that’s primarily because of incorrect valuations and has nothing for us to worry about. The Indian economy grew at 7.1 percent in 2016-17. We have a good monsoon prediction this year so there are no immediate hiccups for the markets. The only small worry could be the actual GST implementation and a correction that is due. For now let’s stay disciplined and have a stock/sector specific approach. All the best!

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