The markets stay afloat... waiting for triggers!!!- Angel Broking

Views of Mr. Mayuresh Joshi (Fund Manager, Angel Broking):

"The Indian equity markets were in fine fettle and the upmove was largely led by the banking stocks on the premise that the asset quality issues faced by them would largely be comprehended and quick resolutions be bought about for them. Airline stocks from the mid cap universe continued their fine upmove along with tyre and housing finance stocks giving them company. Mid cap banking especially the PSU banks moved up very smartly and the move was largely scattered and well spread out with stocks like Bank of India, REC ltd, Canara bank, Federal Bank, Apollo tyre performing well. Stocks which had witnessed smart rallies in the previous few days saw profit booking and money being taken off the table. On the whole the index managed to stay above the 9100 levels on the NIFTY on spot basis and its going to be more stock specific in nature considering the valuations being rich for the Indian markets at the current juncture and few global headwinds that the markets need to comprehend which include the trump policy making along with Q4 earnings which are slated to be released in the coming two-three weeks."

Source : Equity Bulls

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