Just like today’s festival, the market is neither too good nor too bad; spring cleaning is the order of the day as investors weight their options. Thankfully, we may see more green on the trading screens today though the overall pattern will remain largely subdued yet choppy. We expect a slightly higher opening. The overnight recovery in the US and positive trend across Asia will add to the festivities.
No big movements are on the cards, at least till we get the first few Q4 numbers from India Inc. Advance tax numbers are pretty mixed and loosely indicate that auto and FMCG companies have done well while banks are laggards.
Struggle and progress go hand in hand. Monthly inflation is within striking distance of touching double digits and is affecting other segments of the economy besides food. But India’s fundamentals are in much better shape vis-à-vis last year. Monsoon of course will be a joker in the pack and RBI’s annual policy meet next month could be crucial.
