InvestorQ : What is your market view for 15th September and do you expect Indian to also fall with US markets?
Arya Nanda made post

What is your market view for 15th September and do you expect Indian to also fall with US markets?

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diksha shah answered.
2 days ago
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On Tuesday, the Nifty continued to be in the positive supported by IT and other stocks. The Nifty closed at 17,380 levels but most of the action was focused on the mid-cap and small-cap stocks which rallied by over 2% on front with these stocks performing extremely well in an otherwise flat market. The action was largely stock specific.

The big action on Tuesday was on the Zee group stocks. Stocks like Zee Entertainment gained by over 40% on Tuesday. The rally was led by reports that the managing director, Punit Goenka, and two other directors would be forced to resign. Already, two directors viz. Manish Chokani and Ashok Kurien have already resigned from the Zee Entertainment board.

The Zee story led to some foreign investors heavily buying into Zee. Apart from RARE Enterprises, the investment vehicle of Rakesh Jhunjhunwala, BOFA Securities was a prominent FPI to be buying heavily into the Zee stock. Total FPI buying in India on Wednesday was to the tune of Rs.1,650 crore with FPI infusion at Rs.3,000 crore in 2 days.

Finally, I come to your query based on the US markets. The Dow was lower by 290 points while NASDAQ was also lower by 50 bps on Tuesday. While SGX is up in early trades, the pressure is likely to build up during the day and we could see markets trading in the negative during the day on US cues. A lot will depend on Dow futures in second half.

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