Market News: The market remains weakness. There was a ups and downs in the market on 24 January on the last day of the business week. At the end of the trading session, the Sensex-Nifty closed down. Yesterday the Sensex fell 330 points to close at 76,190. At the same time, the Nifty fell 113 points to close at 23,092. On a weekly basis, the market has fallen for the third consecutive week. For the first time for the first 3 months, the market has fallen for the third consecutive week on a week -long basis. This week senses have fallen 0.56 per cent, Nifty 0.48 per cent, Nifty Bank 0.36 per cent, MIDCAP 2.46 per cent and Nifty Small CAP index 4.05 per cent.
Market signal
Talking about signs in the market, the picture of the results is not strong. Fiis’s cash continues to sell heavy selling. The market is not a pre-budget rally but sells selling. Expectations from the budget are very low. The market is nervous with Trump’s action. Economy’s speed is slow. Concern over demand remains intact.
What does the market want to see in the budget?
The market does not want to see any negative news in the budget. Tax should not increase. No new tax should be levied. Capux should cost more. Financial deficit should remain under control. There should be emphasis on increasing demand in the budget. Manufacturing should get push and focus on generating jobs.
Trump spoke in WEF
In WEF, Donold Trump said that corporate tax in the US could be reduced to 15 per cent. To reduce tax, it is necessary that companies make products in the US. If there is no construction in America, then there will be tariff. The fed is asked to cut rates. Rate cuts are very important for economy. Saudi Arabia and OPEC will ask countries to reduce crude prices. The US will use its oil and gas reserves. Want a level playing field with China.
Budget demand for financial sector
The budget demand for financial sector is that personal income tax should be cut. There should be a concession in tax for savings, fixed deposits (FD). There should be incentives for long term saving (equity, date). Steps should be taken to increase the capacity of the capital market. There is a need to take steps to boost the consumption.
Market Next Week: Expectation of market rangebounds, 23000 support may increase by 22670
CNBC-Awaaz Managing Editor Anuj Singhal Talking on the market, he said that if the market was running for four years, no one asked why the market is running. But now if the market has fallen slightly, then there is a hurry. The work of the market is to remove the weak players in between and do not test whether you are made for the equity market.
Anuj further said that the market has declined due to lack of support from Arnings and unilateral rise so far. To some extent, the market is also afraid of what will happen in the budget. Apart from this, the selling of FII is also putting pressure on the market.
Market expert Sunil Subramaniam Said that the effect of fear of lethargy in the economy is visible on the market. Our markets are expensive from the perspective of FII. Due to this FI is being extracted.
Anuj Singhal says that if there is no big thing in the budget, then this decline of the market can still run for 3-4 months. After this, the valuation of the market will become cheaper.
Founder & Cio Arun Malhotra of Capgrow Capital Said that now the phase of unilateral rise in the market is over. Further we will see the quality of quality shares. Investors and traders are now stepping up in the market. This is a good thing for the market. After this correction, investors will not go back again in companies running on the basis of betting and good quality companies will give you good returns. He further said that good quality companies can give 15-20 percent return from here after June quarter i.e. in the next 5-6 months.
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