Speaking on Indian stock market, Sonam Srivastava, Founder at Wright Research said, “This week saw a surprising rebound, but hardly anyone is convinced that this rebound would stick, given the doom and gloom narrative from inflation watchers and central bankers. Autos and FMCG have led the pack this week, and Metals have also shown a steep recovery; nevertheless, the rise of defensives and commodities is a classic bear market move. As a result, the next few weeks will be weeks of caution and risk management.”
Advising bulls and bears of Indian stock market to remain vigilant about the triggers that may dictate markets next week, Avinash Gorakshkar, Head of Research at Profitmart securities said, “This sharp rise should not be taken as trend reversal or market bottom till the gains registered on Friday sustains and market closes above 16,000 levels for at least two sessions. Market investors are also advised to remain vigilant about the US Fed meeting on Wednesday, US first quarter GDP data, Rupee vs dollar movement, dollar index, economic activities in China, quarterly results, etc.”
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