InvestorQ : What is your stock market outlook for Tuesday 06 October? Do you expect markets to be positive for the day?
Sam Eswaran made post

What is your stock market outlook for Tuesday 06 October? Do you expect markets to be positive for the day?

Answer
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diksha shah answered.
3 weeks ago


On Monday, Nifty tremendous support from technology stocks like TCS, Infosys and Wipro which rallied on the back of Trump’s proposed stimulus package and the likely buyback that TCS is expected to announce in its AGM on Wednesday. Metals also did well.

On a day when TCS crossed the Rs.10 trillion market cap, the critical EMI moratorium issue got postponed further by the Supreme Court. The SC gave another week time to the RBI to file the affidavits. Government has agreed to waive the compounding impact of interest.

On the topic of foreign flows, the foreign portfolio investors or FPIs were net buyers to the tune of Rs.237 crore while DFIs sold Rs.472 crore on Monday. In the month of Sep-20, the FPIs turned net buyers in debt after a gap of almost 10 months, which is risk-on.

On Monday, Dow Jones Industrial Average jumped 1.7% while NASDAQ bounced by 2.32% on positive signals that Trump’s health was improving. European markets were over 1% higher. Along with Asia, SGX Nifty is also trading about 15 bps higher in early trades.

The positive news is that the government may finally be moving towards resolution of GST compensation conflict. That should help market sentiments on Tuesday.