Bank of India and PNB may take centre stage today

1. Bull market or bear market?

Positive momentum is likely to continue in expectation of the dovish US Fed minutes and DIIs inflows. However, the upside will be capped given mixed Q3 results and election niggles.

2. Stocks likely to be in limelight today?

Bank of India and Punjab National Bank (PNB)

3. Sectors likely to impact market today?

PSU Banks on account of capital infusion.

4. Your mid-term view?

The current volatility in the market is expected to continue given mixed Q3 performance, NBFC issues and expectation of further earnings downgrades. Additionally, global growth uncertainties, FII outflows and election led volatility will add further impediment for the market.

5. What drove markets on Wednesday?

Positive global markets lifted the domestic market sentiments after two weeks of underperformance. In expectation of dovish minutes from the US Fed and resumption of dialogue between the US and China, were adding positive vibes for the global market. Strong inflows from DIIs, appreciation of rupee and value buying helped the domestic market.

Vinod Nair, head of research, Geojit Financial Services