During the week sensex rose by 1.73%
The weekend surge happened mainly due to data released on 10th November by USA on consumer price index (CPI) which was lower than expected at 7.7% in October compared to 8.2% in September. Indian market surge followed the surge in stocks in US. Another favourable point for the sensex is that INR strengthened against USD and now is trading @ 80.73 compared to one day earlier close of 81.68. With core inflation moving down in USA interest rate hikes in USA will be moderated, this will lead to more FII investments moving to India which in turn will make the stock market bullish. On domestic front all industries are expected to do will this quarter and results are expected to be good. This is good news for the markets.
My take : Market will be bullish for the reminder of 2022. It is good to invest in the markets in small volumes over a period of time in quality stocks & mutual funds. There will be fluctuations in the market on certain days but overall market will provide good returns in the short to medium term.
No comments:
Post a Comment