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Straight from the Specialists

Markets Weekahead: After new Modi govt, correction to continue for a few weeks

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(Any opinions expressed here are those of the author and not of Thomson Reuters)

After a dream run for markets, we witnessed a correction last week with the Nifty declining about 1.86 percent to close at 7,229. The smaller stocks also paused — the NSE mid-cap index lost about 4.5 percent.

Incidentally, India entered the top 10 markets in terms of market capitalization and we should soon cross the market capitalization of US $ 1.5 trillion once the upswing resumes.

Till late last week, it looked that the honeymoon would continue for a while. But, neither politics nor markets remain in a constant mode. The markets seem to have discounted the best possible scenario of implementation of manifesto promises and the economy getting back on growth path.

PM Modi greets Harsimrat Kaur Badal after she took her oath of office as a cabinet minister at the presidential palace in New Delhi The first signs of correction were seen on Monday before the swearing-in of the new council of ministers – the reaction seemed inverse of the May 9 movement when the markets seemed to have got the whiff of the exit polls and a new rally had started. Now, the first phase of the welcome rally seems to be over and we should be entering into a phase of consolidation.

India Market Weekahead: Trading subdued but markets back on track

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

Last week was a volatile one with the stock market poised for a surge but the Nifty eventually closed in the red with a loss of 0.20 percent at 5686.

India Market Weekahead: Buy on dips with no roadblocks till budget

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

There wasn’t much point-to-point movement on the Nifty but it was not a listless week by any standard.

India markets weekahead: Await breakout or breakdown

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

It was a volatile trading week with lots of stock-specific action driving Indian markets. Jittery world markets, earnings disappointments from front-line companies and a weakening rupee erased gains registered early in the week.

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