Read more about Sensex records sharpest May-month rally in seven years; gains 6.5% on Business Standard. The S&P BSE Sensex gained 6.5 per cent, or 3,154 points in May on optimism on economic rebound and progress in pandemic fight is expected to evince buying interest across major sectors.
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Mumbai: Investors may need to brace for more pain on Thursday as India’s stock indices are expected to catch up with Wednesday’s slump across Asian markets on the back of resurgence of coronavirus cases in some countries. Domestic markets were shut for trading on Wednesday on account of Ram Navami
Stocks across Tokyo, Hong Kong, Singapore and Seoul fell 0.7-2 per cent with countries such as Brazil and India setting new records of infections and deaths. This has shadowed the optimism around rising vaccination rates in the US and Europe. The SGX Nifty was down 1.6 per cent on Wednesday evening and had touched a low of 14,016.8 during the day, pointing at more weakness ahead for Indian markets.
Credit Suisse Wealth sees more profit booking in Indian equities in coming weeks
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Last Updated: Apr 21, 2021, 12:01 PM IST
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Synopsis
The firm said Reserve Bank of India’s recent quantitative easing is likely to keep the government bond yields range-bound despite higher-than-expected supply and elevated inflation. It prefers corporate bonds over treasuries with a preference for 1 to 3-year duration bonds.
Reuters
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Mumbai: The Indian equity market could see some further profit booking in the coming weeks, said Jitendra Gohil and Premal Kamdar of Credit Suisse Wealth Management in a note. The wealth management firm said this correction is likely to be very sharp and would not last long.It is advising investors to use this correction as a buying opportunity from a six to nine month perspective. Credit Suisse Wealth continues to prefer cyclicals and midcaps.