Markets await exit polls on Thursday

by IANS |

New Delhi, Nov 28 (IANS) This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The market construct is turning favourable aided by global and domestic factors. Globally there is tailwind from the US market with S&P 500 up by 8.7 per cent so far this month, which, in turn, is supported by falling US bond yields, he said.

Domestically, macro indicators suggest strong growth momentum in the economy. Record order inflows for capital goods companies and robust credit growth are strong indicators of the growth momentum in the economy.

The only unknown now is the outcome of the state election results. The exit polls on Thursday are likely to give indications of the election outcomes and its impact on the crucial General election in 2024, he said.

BSE Sensex is down 10 points at 65960 points.

Adani Group stocks rallied up to 20 per cent after the Supreme Court on Friday, reserved its order in the Adani-Hindenburg case.

Adani Total Gas is up 19 per cent, Adani Energy is up 17 per cent, Adani Green is up 14 per cent, Adani Power is up 13 per cent, Adani Enterprises is up 10 per cent.

Latest News
Zee Entertainment denies report of fund diversion Wed, Feb 21, 2024, 04:05 PM
Sandeshkhali crisis: NCST seeks report from Bengal CS and DGP Wed, Feb 21, 2024, 03:55 PM
Higher secondary exams begin in violence-hit Manipur Wed, Feb 21, 2024, 03:48 PM
Karnataka DyCM Shivakumar attacks Kumaraswamy after facing flak over lawyers issue Wed, Feb 21, 2024, 03:05 PM
'Money mule' bank accounts on the rise in India: Report Wed, Feb 21, 2024, 03:02 PM
J&K: Abida War awarded Gandhian Rashtriya Seva Puraskar Wed, Feb 21, 2024, 03:01 PM
AIADMK commences distribution of application forms for Lok Sabha polls Wed, Feb 21, 2024, 02:57 PM
Nitin Gadkari to inaugurate projects worth Rs 13,000 cr in Karnataka Wed, Feb 21, 2024, 02:52 PM
'It is miraculous': Aakash Chopra on Rishabh Pant potential comeback in IPL 2024 Wed, Feb 21, 2024, 02:42 PM
PM to dedicate to nation 2 N-power reactors; Kakrapar plant 4 to be connected to grid soon Wed, Feb 21, 2024, 02:32 PM
FMCG stocks underperformed benchmark index in last one year Wed, Feb 21, 2024, 02:31 PM
Haven't joined INDIA block: Kamal Haasan Wed, Feb 21, 2024, 02:23 PM
Yashasvi gains big in ICC Test rankings after double ton in Rajkot Wed, Feb 21, 2024, 02:20 PM
Delhi HC restrains Geetanjali Salon from playing copyrighted songs without licence Wed, Feb 21, 2024, 02:10 PM
Security beefed up at Delhi-Gurugram border amid farmers' protest Wed, Feb 21, 2024, 02:08 PM