InvestorQ : How do you see the stock markets pan out on Tuesday 02nd August 2022?
Dhwani Mehta made post

How do you see the stock markets pan out on Tuesday 02nd August 2022?

Answer
image
diksha shah answered.
2 weeks ago
Follow

On Monday the first of August, the stock markets rallied for the fourth day in succession. In fact, the total market cap accretion over the last 4 days has been over Rs13 trillion. That is nearly $175 billion of wealth added to the wealth pool. Autos led the pack following strong auto sales numbers especially in the passenger vehicle (PV) segment.

In terms of market structure, the 181 points rally in the Nifty was driven by advance / decline ratio of 38:11, which shows an extremely favourable breadth of market indicator. Tata Motors and M&M were among the top gainers on the Nifty while Sun Pharma came under pressure. M&M gained on record bookings received for its new Scorpio model.

Foreign investors were net buyers in equities to the tune of Rs.2,231 crore as domestic funds sold stocks worth Rs.822 crore on Monday. FPI flows were positive in July month. In global cues, Dow and NASDAQ were marginally lower as was Europe. In early trades on Tuesday, the SGX Nifty is also trading with about 45 bps losses and could see pressure.

In terms of market view, the early trends do indicate that markets may take a respite after the sharp rally in the Nifty over last 4 sessions. Ahead of the 3 day MPC meeting starting on Wednesday, the markets are likely to be cautious since there is a chance that RBI may surprise the street with another 50 bps rate hike due to elevated WPI inflation.

2 Views