Last
week, market jumped 2% rejuvenated by the buying interest post-stimulus package
announcement in the us. Last week sensex added 1021 points to end at 50029
&nifty rose 360 points, to close at 14867 levels while this week market
started on a negative note for the mainly due to sharp surge in covid-19 cases
across the country. Despite, stable global cues, the indian indices lost its
ground and ended with losses of nearly 1.5% to end at 14638 levels. The sharp
surge in covid-19 cases has dented investor sentiments and has increased fear
of harsh restrictions which would impact economic activity. The upcoming q4
fy21 earnings season will begin in a week’s time, so investors’ focus will be
shifting back to fundamentals. This time investors’ expectations are rife for a
strong earnings season led by healthy demand recovery and low base effect. On
the earnings front, revenue growth, margins expansion and management commentary
will be key things to watch out. Further, the upcoming rbi monetary policy
would be actively tracked by investors. We expect the rbi to maintain its
dovish stance and leave key rates to be unchanged.
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