InvestorQ : What is your market outlook for 15 January? Do you see pressure on the market?
Arusha Ray made post

What is your market outlook for 15 January? Do you see pressure on the market?

diksha shah answered.
2 years ago

There could be pressure but it would be short lived. That was evident the way Sensex bounced 700 points from lower levels. The much awaited US stimulus came in at $1.9 trillion of which markets were disappointed that fiscal stimulus was only $1.5 trillion. However, this is a good start by the US nevertheless.

The SGX Nifty has been under pressure in early trades and that is largely due to the impact of rising jobless claims. There was a fairly sharp rise in jobless claims in the US. Hopefully, the US stimulus should help to resolve this stiff challenge. At a domestic level, most of the results announced till data have only beaten the street, so that is good news.

Foreign portfolio investors or FPIs were net buyers of Rs.1077 crore on Thursday 14 January while the DFIs sold Rs.188 crore worth of equities. Friday being the last trading day of the week there is likely to be relatively tepid markets as traders play a little more cautiously. FPIs may choose to be in the sidelines considering the levels of the Nifty and Sensex.

The Dow and the NASDAQ were marginally lower on Thursday due to disappointing jobs data. However, it appeared that European markets had put the risk of rising COVID cases behind as it stayed in the positive. The SGX Nifty is trading nearly 40 bps lower and Asian markets could offer clues to the market direction. Trend remains positive for Nifty.