Market Outlook

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Market this week

Market slid 2% during the week, as lack of positive triggers and rise in oil prices resulted in an outflow of foreign funds. Cooling of CPI inflation in January to 2.05% and pick-up in Industrial Production for December 2018 by 2.4% failed to create a positive momentum. India is underperforming in spite of improvement in the global market and appreciation in INR. Inflows have reduced this month due to muted Q3 results and uncertainty ahead of general election. Key mid and small cap indices have been down by about 10% in the last one month. Mid and small caps have been impacted by selling by mutual funds and  foreign institutional investors (FIIs) due to premium valuation compared to the large caps.

Week ahead

Crude oil prices will be in focus as any further rise in prices is expected to escalate macro concerns of the country.  Expecting the current volatility in the market to continue further with no major positive triggers due for next week. 10,500 to act as a crucial support zone for the market.

Posted: February 15, 2019

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