- The Nifty appeared to have forgotten the sharp correction of Wednesday as a mix of selective buying in financials and short covering in IT and FMCG stocks took the markets higher on the day of F&O expiry.
- The sharp fall in oil prices came after the S&P downgraded European growth by nearly 50 bps from 1.6% to 1.1%. With the US yield curve inverting; there are genuine fears of a slowdown in growth across the board.
- FIIs were net buyers to the tune of Rs.3595 crores while DFIs sold Rs. (-2080) crore on Thursday. FIIs have now infused a sum of more than Rs.46,000 crore in the month of March in equity and debt put together.
- US markets are trading in the positive and we could see some buying in Indian markets on Friday being the last trading day of the fiscal year. Europe could be under pressure after the S&P presented a weak picture of growth.
- RBL Bank may up nearly 50% from the October lows but it still has room to go up on improved asset quality and aggressive growth. We target 750 on the stock in the next one quarter as results are expected to continue to flatter.
- NTPC continues to be the dark horse in trade today with the company most likely to benefit from the availability of power generation capacity at reasonable rates once they are referred to NCLT. That is likely to happen in the next fiscal.
- We are not giving any fresh call for the day and will take a fresh view next week after the volatility of the current month is done with. We expect broadly a strong closing on the last day of trading on Friday.
- Friday is the last trading day of the fiscal year, we expect a positive close to the market. We will take a fresh perspective on the market next week.
