Covid surge, yield spike to dampen equities
Accordingly, market watchers, said that the upswing seen late on last Friday on account of rejig in international index weights might not sustain in the coming week.
Mumbai: Surge in the Covid cases as well as global bond yields might dampen the key equity indices next week, analysts contended.
Accordingly, market watchers, said that the upswing seen late on last Friday on account of rejig in international index weights might not sustain in the coming week.
“Nifty has showed remarkable bounce from the intraday lows on March 19. One will have to watch as to whether this uppishness continues early next week even after the FTSE rebalancing is done with,”US Bond yield moves will be one of the important factors to track. 14,919 remains a strong resistance for the Nifty while 14,529 could be a support.”
“The Federal Reserve could remain a source of angst for markets in the week ahead, with chairman Jerome Powell scheduled to testify twice before Congress and more than a dozen other Fed speeches expected,”
Besides, a contraction in IIP data for January and spike in India’s inflation had also triggered selling.
A sharp increase in the US treasury yields and firm crude oil prices did not help investors’ sentiment.
“The market may remain volatile in the near term given concerns over rising bond yields, increasing commodity prices and risk of increase in inflation,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
