Sensex rises 1.8% - Views of Mr. Sumit Chanda, Founder & CEO, JARVIS Invest

With the rise in Sensex by almost 1.8% on Friday Mr. Sumit Chanda, CEO & Founder of AI-based investment advisory platform, JARVIS Invest shared his views on the response from markets and how this is going to impact sectors like IT and Pharma.

"Our markets have been tracking the US markets over the past few days. The Dow and NASDAQ showed a sharp uptick even after the latest inflation numbers suggested future rate hikes by the FED. This response from our markets was expected. What is important right now is the commentary expected from the FED since their attempt to rein in inflation is not going the way they expected. Also, this being results season, any news that is out of the ordinary will spook the markets. These spikes will be short lived. Expect volatility to continue for some more time.

Our inflation numbers showed an upward trend as well which effectively will push the RBI to hike rates in December. We can expect a range bound market for some time.

From sectors' perspective, a strong dollar plays out well from IT & Pharma. However, with the Q2 results coming in, it will dictate the stock specific movements.

Nifty at 17000 & Sensex at 57300 - 500 range is a good level to start investing. Staggered investments will take care of the volatility."

Source : Equity Bulls

Keywords

Sensex Nifty JARVISInvest