New Delhi, May 5 (IANS) The performance of large cap stocks has been impacted by FIIs remaining net sellers in the market.
Vinod Nair, Head of Research, Geojit Financial Services said the ongoing results season will be a key factor for investors to align their portfolios. The market will also remain vigilant about the BoE policy and GDP data from the Eurozone.
“We expect a degree of consolidation in the market due to expensive valuations and any election-led jitters,” he said.
The FIIs continued to remain net sellers in the market, which has impacted the performance of large cap stocks, he added.
A marginally better-than-anticipated Q4 earnings and a correction in oil prices led to a positive start to the domestic market during the week. However, a mixed trend in the global market after the release of a status quo FED policy with caution about sustaining a high inflation trend led to a broad-based correction in the domestic market, he said.
The positive commentary from the auto companies on recent volume numbers led the sector to outperform. Additionally, stock-specific action was visible in banks and the power sector on account of positive Q4 results and increased power demand, he said.
Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services said: “We expect the market to consolidate in a broader range.”
–IANS
san/kvd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
