Business
Weak global cues and FIIs selling may heighten volatility and Nifty is less likely to break above its key resistance above 10950
Updated : Jan 18, 2019, 06:10 AM IST
Market to remain range bound as Q3 results so far from IT & Banking did not provide comfort to the investors. Weak global cues and foreign institutional investors (FII) selling may heighten volatility and Nifty is less likely to break above its key resistance above 10950.
Wipro, Kajaria and NIIT
Technology, Banking and consumer discretionary
Post the slowdown in the domestic economy and populist measures, the domestic macro is getting balanced due to falling in oil prices and inflation. Any change in the Reserve Bank of India's (RBI) 'calibrated tightening' stance is expected to boost investor sentiments. However, the expectation of further downgrade in earnings, global headwinds and general elections is likely to keep the market under pressure.
Despite weak global cues domestic market ended with marginal gains led by appreciation in rupee and stock specific buying. Global markets were under pressure due to concerns over a slowdown in global growth and continued political tensions in the US and Europe.
Vinod Nair, head of research, Geojit Financial Services