Portfolio managers say the results will ensure policy continuity and lift prospects for the stock market as international investors become more confident in their India allocations ahead of national elections.
India Business News: Prime Minister Narendra Modi's party winning key state elections boosts India's appeal for foreign investors and inflows into local equities. The resu
Market observers will be monitoring the actions of pre-IPO investors and promoters in firms such as Mankind Pharma, Kaynes Technologies, Gland Pharma, Utkarsh Small Finance Bank and Senco Gold, among others, to ascertain whether they opt to divest or maintain their current holdings.
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar.
They added that the sharp rally in the equity markets during the last few months has made valuations costly.
As a result, Jefferies expects the Indian markets to remain choppy in the near term.
Nifty PSU Bank is in fact on the verge of a 13-year breakout to touch fresh lifetime highs on the back of good system-wide credit growth, stable asset quality, and attractive valuations. In between, Nifty Bank, which is dominated by HDFC Bank and ICICI Bank, is flat while the bluechip index Nifty has gained just 2.5%.