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- Budget 2024: As markets are scaling caller highs up of Budget, Gurpreet Sidana, CEO of Religare Broking, feels that Budget announcements, and Q1 net show volition beryllium important to enactment the marketplace valuations.
Budget 2024: Markets to instrumentality cues from Q1 results and lawsuit outcome-Sidana(MINT_PRINT)Budget 2024: Markets are scaling caller highs with the benchmark indices - Sensex and Nifty 50 - rebounding importantly successful past mates of weeks, aft the volatility related to Lok Sabha canvass results 2024 cooled down. Gurpreet Sidana CEO of Religare Broking, successful an interrogation with Mint's Ujjval Jauhari, said that the uncertainties are down and marketplace participants are ignoring each sets of atrocious news. Here are edited excerpts from that interview:
Post Lok Sabha Elections 2024, investors are looking astatine the budgets and hopes are that fund should bring successful immoderate cheer to the market.
But different than the fund it is the quarterly net performances too, which is apt to commencement being announced successful the adjacent fewer weeks, and volition stay crucial. Market volition beryllium searching for triggers. The participants volition beryllium taking cues from Q1 results on with the budget.
The markets are not beauteous inexpensive close now. Markets, however, are ne'er appropriately priced. When we accidental it's not cheap, it's hard to accidental if they are costly due to the fact that costly is each subjective, said Sidana . If the firm results truly don't amusement immoderate antagonistic surprises I deliberation that marketplace valuations tin prolong . Also however overmuch much markets tin emergence volition besides beryllium connected however the firm net cookware out.
Pockets of opportunities successful the markets
It is the banks and banking abstraction arsenic a full which Sidana expects volition proceed to bash well. Railways, Defence, etc. volition besides stay successful focus.
Interest Rate cuts expectations
We don't cognize erstwhile involvement rates whitethorn commencement coming down though everybody has their opinion, pointed Sidana. Nevertheless emergence successful involvement rates started with hikes by the US Federal Reserve and volition commencement coming down arsenic and erstwhile the US Fed cuts the involvement rates. There is anticipation of 1 complaint chopped successful US successful this existent twelvemonth and lone erstwhile that happens, India involvement rates whitethorn besides commencement coming down. Indian Central slope volition travel footsteps lone erstwhile that planetary trends volition commencement easing . However the Indian Interest rates did not spell up arsenic aggressively and arsenic accelerated arsenic the US and different planetary economies, truthful diminution volition besides beryllium gradual only.
FII Flows inflows volition besides travel the involvement complaint cuts, Sidana expects the FPI flows to prime gait during Pre Diwali play oregon adjacent to Diwali. However, for present expects Q1 results to beryllium important to springiness absorption to the markets and warrant the marketplace valuations.
Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier taking immoderate concern decisions
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