New Delhi: Reflecting the mixed global sentiments on account of a more than expected fall in Chinese exports, highlighting a continued slowdown in global trade, the Indian market is mired to a range bound trend, says Vinod Nair, Head of Research at Geojit Financial Services.
The Nifty index was not able to breach above the key level of 19,500. Though cues from the Fed Chair’s speech have reduced the likelihood of a rate hike in the near term, leading to an ease in the US treasury yields and calming the market, he said.
However, headline inflation remains above the US central bank’s target. FIIs selling has moderated but inflows continue to be muted on concerns of an elevated interest rate and a global slowdown, he said.
Mid- and small caps are back in favour after the recent fall, led by retail activities and good corporate results.
Week ahead, focus will be on inflation data of the US and India, India’s October inflation is expected to ease to 4.8 from 5 percent, while the US inflation is expected to remain steady.
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