Market Ahead, January 7: Top factors that could guide markets today
Podcast
News:
A huge sell-off in the equity markets yesterday and a recovery in
global markets overnight may prompt a rebound in domestic indices
today. However, short-term risk from any new aggression on the
US-Iran front remains intact.
A
reports by Reuters that the government is likely to cut spending for
the current fiscal year to curb deficit as it faces one of the
biggest tax shortfalls in recent years is also expected to weigh on
investor sentiment.
Apart
from this, market participants will continue to follow the trajectory
of the Rupee which plunged 13 paise on Monday to settle at 71.93
against the US currency. They will also be on the lookout for on any
news flow regarding the upcoming Budget. Besides, investors will
track stock-specific action, foreign fund flows, and global
developments throughout the day for further cues.
Among
individual stocks, TCS will remain in focus as the IT bellwether is
set to postpone the announcement of its Q3 results from the earlier
scheduled date of January 9. According to a Business Standard report,
the firm is waiting until the Supreme Court hears its plea over the
NCLAT’s order on the reinstatement of Cyrus Mistry.
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