Sectors like jewellery, apparel, hotels, aviation to gain traction with the onset of wedding season
New Delhi, Nov 26 (IANS) With the onset of wedding season, sectors like jewellery, apparel, hotels, aviation and other related industries are likely to gain traction.
“Next week, we expect some momentum in market to return as investors will take cues from various economic data including GDP numbers for US, China & India,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Vinod Nair, Head of Research at Geojit Financial Services, said domestic indices traded within a range throughout the week with a positive bias.
The Fed reserve adopted a cautious stance and the muted trend in European and German markets was also echoed in domestic markets. Declining inflation and recent cooling job data in the US, along with easing US bond yields, attracted foreign funds to the emerging market.
The broader Indian market experienced some profit booking as investor attention shifted to the primary market, marked by a set of IPOs scheduled for the week.
Sectors such as consumer durables and realty took the lead, driven by a strong rebound in festive demand. However, the IT sector showed subdued performance in response to weak global data. Despite the RBI’s scrutiny of unsecured lending by NBFCs, the banking index demonstrated resilience this week, he said.
–IANS
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