Metal, auto stocks likely to be in limelight today
Rohit Srivastava, fund manager – PMS, Sharekhan by BNP
Bull market or bear market?
Markets might push higher after today’s late rally. But could face strong resistance near 11020.
Stocks likely to be in the limelight today
If the sales data is weaker than expected, it could hurt auto stocks. Metals could be under pressure by falling commodity prices.
Sectors likely to impact market today
The financial sector stocks are picking up on hopes of lower interest rates, boosting returns.
Your mid-term view?
Medium term I remain bearish on equities as the global equities rout is not over. Growth slowdown is now spreading East to West.
What drove markets today?
The market was driven by a lack of participation. Weak auto sales data was overlooked as the markets looked forward to stimulus measures from the government.
Rohit Srivastava, fund manager – PMS, Sharekhan by BNP