Markets likely to remain volatile on global concerns
Investors are closely monitoring Q4 earnings and geopolitical events, which are poised to shape market direction, says Vinod Nair, Head of Research at Geojit Financial Services.
Investors are closely monitoring Q4 earnings and geopolitical events, which are poised to shape market direction, says Vinod Nair, Head of Research at Geojit Financial Services.
Investors are expected to closely monitor developments in the upcoming week as Q4 results are unveiled, says Vinod Nair, Head of Research, Geojit Financial Services.
There are indications of exhaustion in the market rally, particularly in the broader market, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
At close, the Sensex was down 523 points or 0.73 per cent at 71,072.49, and the Nifty was down 166.50 points or 0.76 per cent at 21,616.
The recent market rally, propelled by antici- pation that major Western central banks may raise and not cut interest rates, paints a picture of optimism.
Investors distanced themselves from Yes Bank counter after the bank reported a 91 per cent fall in its profit at Rs 113.76 crore, down from Rs 1,260.36 in the comparable period last year.
The crisis-hit airline shares have lost over half of the value.
The US-China trade tension also weighed on the investor sentiments. Caution was also seen ahead of the Federal Reserve meeting which will start on June 18-19.
42 Indian entrepreneurs representing 20 Indian start-ups participated in the event and pitched before Chinese investors.
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