YES Bank, IndusInd Bank, Indiabulls Housing, L&T, Sun Pharma to be focus today
The market is expected to trade in a narrow range with a negative bias evolving on the global macro headwinds and elections
Bull market or bear market?
An exit poll indicated risk of ruling party losing ground in key states elections, Nifty has broken its 200days moving average of 10,650, with a support of 10,250. However, we may see a short covering, if the final outcome is not worse as being anticipated today.
Stocks likely to be in limelight today?
YES Bank, IndusInd Bank, L&T, Sun Pharma, I'Bull Housing finance, with a negative bias.
Sectors likely to impact market today?
Infra and Banking stocks will be negative, depending on the extent of market bias.
Your mid-term view?
Prospect of a pause by Fed on US interest rate tightening decision is positive. However, the market is expected to trade in a narrow range with a negative bias evolving on the global macro headwinds and elections.
What drove markets on Monday?
Investors are on risk-off mode given worries over a slowdown in global economic growth and tensions between the US & China. On the domestic front, investors will be on the sidelines due to unfavourable exit polls for the ruling party, volatility in oil prices and rupee.
Vinod Nair, head of research, Geojit Financial Services