Today, the opening moments will be dominated more by Oil India’s listing. The market will be keen to see how the stock behaves after a tepid debut for Adani Power and NHPC. We expect another positive start though Asian stock markets are mixed after overnight losses on Wall Street. If global cues remain indecisive the market might just turn choppy again being a curtailed week.
Chief economic advisor says India will grow at 7% this fiscal. It’s become a habit for top bureaucrats and government officials to talk about GDP growth. Take each prediction with a pinch of salt. Still, there is no denying that India will do well, notwithstanding the deficit monsoon. The tricky part is the market has already had a terrific run in anticipation of the imminent rebound. So, it remains to be seen how long the current momentum continues.
The scope for further advance does appear to be limited and every rise will be interrupted with periodic falls. Overall the mood remains upbeat.
