- The weak growth outlook took its toll on all the markets and the Indian market was also not spared. IMF had actually upgraded India growth but the global worry would impact exports growth and that hit the markets.
- After a day’s fall, Brent was back above the $71/bbl mark after a collapse of Venezuelan production by 33% had its impact on prices. US drawdowns were also large even as Libya continued to see its supply disrupted due to strife.
- FIIs were net buyers to the tune of Rs.1430 crores while DFIs bought Rs.461 crore on Wednesday. FPI infusion into Indian equities has already crossed the Rs.12,000 crore for the month of April. The IMF growth worry may favor Indian flows.
- After a weak day of trading on Tuesday, global markets improved on Wednesday with the NASDAQ taking the lead. The European markets were also in the positive after BREXIT extension looked likely. SGX is trading in the positive.
- Yes, Bank may still be available at reasonable valuations and the change in management may not be fully factored into the stock price. We expect upsides of Rs.330 on the stock in the next quarter.
- We see Tata Motors again scaling back to its levels of around 250-260 in one quarter and short term traders can look to Tata Motors to trade for the turnaround in the JLR numbers in the last quarter.
- Ahead of elections, we suggest buying strong consumer franchises. We suggest buying D-Mart for Rs.1500 with a quarterly target of Rs.2000 on the stock. The stock is a lot more reasonably valued than it was at the time of the IPO.
- Markets are likely to remain volatile ahead of the elections but could touch 12,000 levels on the Nifty based on the feedback of early rounds of voting.
