Auto, banks, realty indices could underperform
Markets could remain sideways with a slightly positive bias till the Union Budget on July 05, post which a sharper movement (most likely down) is expected
1. Bull market or bear market today?
Mildly bearish.
2. Stocks likely to be in limelight today?
YES Bank, Indiabulls group, Biocon, DLF, Infratel, Tata Steel.
3. Sectors likely to impact markets today?
Auto, banks and realty indices could underperform while metals and IT services could rise.
4. Your mid-term view?
Markets could remain sideways with a slightly positive bias till the Union Budget on July 05, post which a sharper movement (most likely down) is expected.
5. What drove markets on Wednesday?
Escalating tensions on the US-China trade front and concerns of slowing growth in China curbed risk sentiment on the global front, and locally, it was corporate downgrades/delay/defaults and their possibilities.
Deepak Jasani, head - retail research, HDFC Securities