Market View: 9-13 OCT 2017

Filed in Market Update by on October 9, 2017
Week Market View: 9-13 OCT 2017
View Last week the NIFTY closed at 9980 registering a gain of 1.95% over previous week. This could be primarily attributed to a strong closing of US market. Also the RBI kept key rates on hold and raised 2HFY18 inflation projection to 4.2-4.6% which was a positive. Going forward, the earnings season would kick off and the markets would start taking cues from here on. More than 30 BSE companies will be declaring their earnings. This earnings season is critical as we believe that the impact of GST and demonetization should not be seen from here on. Any recovery shown here would take markets to a new high, though the chances of recovery are less. On the global front, the markets will keep an eye on the ongoing tensions between US and North Korea. This week the markets ae likely to remain volatile for a while. They may also react to the latest developments that happened on the GST front on Friday. Let’s be a little cautious and have a wait and watch approach. Nothing really to worry. All the best!

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