InvestorQ : What is your outlook for the stock markets and the indices for 12 October 2020? Is the market ripe for a correction?
swati Bakhda made post

What is your outlook for the stock markets and the indices for 12 October 2020? Is the market ripe for a correction?

Answer
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diksha shah answered.
2 weeks ago


Starting Monday, we are going to see some heavy data flows including CPI inflation, IIP growth on Monday and WPI inflation and trade data later this week. The accommodative stance of the monetary policy will also serve to keep rate sensitives in good shape.

Overall, IT could be the big story to watch after the strong TCS results and the buyback announcement last week. Wipro, Infosys and HCL Tech are also slated to announce results this week. Like TCS; most technology stocks are expected to guide robust 2021.

Foreign portfolio investors or FPIs were net sellers to the tune of Rs.39 crore while DFIs bought Rs.126 crore on Friday. In October, equities have held fort while debt has seen selling. FPIs infused Rs.5300 crore into equities but pulled Rs.4200 crore from debt markets.

Global markets are giving positive cues with the Dow 60 bps higher on Friday and the NASDAQ almost 140 bps higher. While DAX was flat, FTSE and CAC in Europe were up 70 bps. In early trades, SGX Nifty is up just about 10-15 bps and that could trend higher.