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Nifty gained 2% weekly but declined Friday due to US inflation concerns, geopolitics, FIIs selling. Markets closed May 1 for Maharashtra Day. Key factors to watch include US Fed FOMC, Q4FY2024 earnings, and technical factors. "Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market."
S Krishnakumar shares insights on market performance, cautioning on high valuations and potential earnings surprises in auto ancillaries. He highlights megatrends in renewables, e-commerce, and manufacturing, stressing the need for strategic investment timing. Krishnakumar further says that "opportunities are very rare to come by where there is a lot more comfort in valuation. This is a market which is well priced in ."
Sensex and Nifty reach new highs, but caution advised for potential correction. Analysts predict hurdles at 23,000 levels with possible market correction before elections. Foreign investors show interest in Indian shares.
Manish Sonthalia says the market fall had been overdue as some segments of the market were frothy in the broader markets and that led to a correction of sorts . But in general, markets are not very expensive. Sonthalia highlights reasonable market valuations and the significance of investment themes and order books for future growth. Anticipates gradual earnings realization for slightly higher valuations.