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In the coming truncated week, the market is expected to consolidate with a positive bias, with focus on Fed interest rate decision, corporate earnings, monthly auto sales numbers, and manufacturing PMI data, experts said.
In the coming week, after consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary.
FOMC meet: Japanese brokerage Nomura said Fed officials appear content to let higher long-term yields serve as a substitute for further rate hikes.
Given the severe correction in the past weeks, the market is expected to be rangebound and volatile in the coming week with focus majorly on rest of corporate earnings, further developments related to Israel-Hamas war and the outcome of central banks meetings
“Typically, post-buyback, one examines whether there will be a significant improvement in return on equity, as the base capital, the equity capital, diminishes. Since the equity capital reduction is likely just around 2.2%, it's not substantial enough for the ROE to improve merely because of the buyback”