InvestorQ : What is your outlook for the Nifty and the Sensex for 13 July, Tuesday? Do you expect markets to bounce back from these levels?
ishika Banerjee made post

What is your outlook for the Nifty and the Sensex for 13 July, Tuesday? Do you expect markets to bounce back from these levels?

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diksha shah answered.
4 months ago
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On Friday, the markets displayed a strong opening but that could not be sustained. Towards the end of the day, the Nifty and the Sensex almost gave up all the gains of the day and actually closed in the flat to negative zone. Cement showed traction but most other sectors gave up gains. Metals came under pressure on Monday.

Key macro data points were out on Monday. The markets would be happy with a positive IIP growth and inflation lower than consensus expectations. However, while IIP growth was strong yoy at 29.3%, the weak sequential growth in IIP hints that Indian economy is yet to exit COVID 2.0. Also, inflation saw food prices go up sharply in June.

Foreign portfolio investors were net sellers to the extent of Rs.746 crore on 12 Jul, Monday. At the same time, the domestic institutions bought Rs.447 crore in the equities market. FPI outflows have been consistent in July although the same FPIs had infused close to $2.35 billion in the month of June.

Global cues are overall positive for Tuesday. Dow is over 110 points higher, but the pressure came predominantly from NASDAQ, which was flat on Monday. European markets were higher but the real cue came fro0m SGX Nifty which is trading 60 bps higher in early trades on Tuesday. Asian cues could hold the key to the Indian markets.

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