Bullish trend to continue for domestic markets

KS Badri Narayanan Chennai | Updated on October 14, 2021

Analysts caution investors on high valuation


Gravity defying bull rally to continue at Dalal Street on Thursday as well, as global markets too turned positive. With uninterrupted fund flows continuing from retail investors, directly and through mutual funds, Indian markets to remain on consolidation mode, analysts said.

Better-than-expected results from Infosys and Wipro are likely to keep the bullish momentum continue, experts believe.

Day Trading Guide for October 14, 2021

Though economic indicators are in a better shape as against last two years, analysts see the market cannot sustain the current rich valuation. SGX Nifty at 18255 indicates, another record opening for Nifty futures, which on Wednesday closed at 18,172 on the NSE.

Equities across in Asia-Pacific region are up between 0.2 and 1.3 per cent. Overnight, the US stocks too closed in the green.

There is a positive development on both fronts, as inflation cools down and growth picks up, said Nish Bhatt, Founder & CEO, Millwood Kane International. The CPI inflation data for the September has eased to 4.35 per cent. it is steadily falling down from the highs witnessed since the start of this financial year.

EID Parry (₹472.4): BUY

"Market continues to remain in upward trajectory as macroeconomic trends keep improving month-on-month. The inflation data was also in line with RBI’s expectations. Therefore, we expect only a gradual normalisation in the monetary policy, with the first reverse repo rate hike in either Feb’22 or April’22. Market would react to the good results reported by all three major IT biggies ie., Wipro, Infosys and Mindtree," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Published on October 14, 2021

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