InvestorQ : What is your view on the markets for Wednesday 07 October? Will the bull market rally continue for the time being?
Debbie Mascarenhas made post

What is your view on the markets for Wednesday 07 October? Will the bull market rally continue for the time being?

Answer
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diksha shah answered.
2 weeks ago


On Tuesday the rally was largely driven by HDFC and Tata Motors; after they gave a good outlook for the business. HDFC gained as its home loans business almost recouped to the pre-COVID levels while TAMO gained from robust numbers reported by JLR.

In a big positive turn of events, the 3-day MPC meet begins tomorrow and policy announcement will be done on 09 October. It is clear that rate cuts are unlikely but the new MPC members are likely to communicate dovish stance along with ample liquidity promise.

These sentiments helped global investors to turn net buyers to the tune of Rs.1102 crore on 06 October even as domestic houses sold Rs.935 crore. It looks like, after a break, the FIIs have finally turned around to being buyers in the last few days with a risk-on attitude.

Finally, on the global markets Dow and NASDAQ corrected sharply in late trades after Trump ruled out any fiscal stimulus for the time being. That is likely to rub off on the Indian markets when it opens on Wednesday and the sentiments may be negative.