Markets
continue to react negatively to the tough stance taken by the RBI after it blew
the bugle on its war against inflation in Friday’s credit policy announcement,
observed Sachin Karpe. While the
hike in REPO may not be as unfavourable as the markets may make it look at this
point in time, the reaction in the market being witnessed currently, is also a
fallout of the impending expiry of the Sep series in F&O Contracts, feels Sachin Karpe.
Banks,
particularly the bigger ones (PNB, SBI, BoB, AXIS, HDFC) continue to see lack
of interest from investors while the Pharma and FMCG space, despite fears of
high-valuations continues to draw favour. Sachin
Karpe also observed that some of the Power sector stocks too are witnessing
mild accumulation by traders in anticipation of some favourable announcements
from New Delhi.
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