InvestorQ : What is your market view for 15 October? Do you think that Infosys will have an impact the market direction today?
Arusha Ray made post

What is your market view for 15 October? Do you think that Infosys will have an impact the market direction today?

Answer
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diksha shah answered.
2 weeks ago


At an index level, the Nifty showed solid strength on Wednesday. It bounced back to close in the green after trailing with losses for most of the trading session. However, the sector that actually led the rally on 15 October was financials and insurance.

Infosys will be the big story for today. You must be aware that Infosys reported stellar numbers showing double digit growth in the Sep-20 quarter. It also improved its revenue growth guidance from 0-2% to 2-3% range. Infosys could now have an edge over TCS.

On the flows front, FPIs continued to be net buyers to the tune of Rs.822 crore while DFIs sold Rs.1276 crore on Wednesday. More than the FPI buying, which appears to have stabilized, it is the consistent domestic selling that hints at liquidity crunch.

There was not much of global market action. Markets across US and Europe have been flat to negative on Wednesday while SGX Nifty held on to closing momentum. While Asian cues will be watched, I agree with you that Infosys could be the big driver on Thursday.