- Returning after a day’s holiday, the Nifty is likely to hover above the 11,600 mark as indicated by the SGX Nifty in early trades. The first quarter results have been overall positive for the Indian markets.
- With the Fed keeping its hawkish tone clear it is evident that there will be another rate hike in September. Markets are likely to be a tad cautious in trading on Thursday as this could temper US GDP growth.
- FIIs were net buyers to the tune of Rs.254 crores while DFIs bought Rs.198 crore on Tuesday. Flows from FIIs are likely to be calibrated till there is clarity on the future trajectory of rates from the Fed and from the RBI.
- Markets across Europe and Asia were positive on Wednesday. Asia bounced back sharply on Wednesday on Trump hopes and Indian markets could look to cover the gap after a trading holiday on Wednesday
- We have been talking about a price target of Rs.750 on Tech Mahindra. Around these levels we would recommend to book profits and shift funds into pharma stocks like Glenmark and Cipla at current levels.
- Rain Industries against appears to a good bet after the sharp correction. The stock has bounced from lower levels but with nearly 100% growth in profits, it gives comfort at these prices. One can expect 50% returns in 1 year time.
- Vedanta at Rs.216 not only offers a good level to enter but also an attractive dividend yield of above 6%. One can look to buy the stock at around these levels for a price target of Rs.250 in the next 1 month time.
- With growth coming back to the world economy, the focus could now shift in favour of the capital goods segment in a big way.
