Market View by Mr. Anand Shah, Deputy CEO & Head of Investments, BNP Paribas Mutual Fund

After opening on a dull note, the markets subsequently moved higher, on hopes that an out and out trade war between the United States and China could be averted. In an announcement over the weekend, US officials reportedly noted that any penalties on Beijing are not imminent and there is ample time to avert a possible trade war. President Donald Trump said in a tweet Sunday that he expects China to lower trade barriers with the US acting reciprocally on taxes. Market participants viewed this as a positive step and accordingly increased exposure to equities. Both the benchmark Sensex and the Nifty finally closed the day with gains of over 0.25%. On the sectoral front, while media, healthcare and Information Technology (IT) indices traded in the red, gains were witnessed in FMCG and banking indices.

Source : Equity Bulls

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