Stock Market LIVE Updates: Markets found much-needed relief after the US Treasury stepped in to contain the surge in global bond yields, triggering a strong broad-based rebound and ending the domestic market's week-long losing streak.
The intervention has dragged down the dollar, which, along with a firmer rupee and easing yield pressures, boosted attractiveness to EMs.
The recovery was widespread across sectors, driven primarily by strength in IT and financial stocks, as a cooling yield environment supports spending.
Yet, the market's optimism remains guarded as stubbornly high crude oil prices, driven by unresolved US-Iran tensions, continue to cast a shadow over inflation and corporate profitability.
The near-term outlook is likely to hinge on the direction of global yields, energy prices and geopolitical developments, with sustained stability needed to keep earnings momentum and foreign inflows intact.
Stock Market LIVE Updates: Markets found much-needed relief after the US Treasury stepped in to contain the surge in global bond yields, triggering a strong broad-based rebound and ending the domestic market's week-long losing streak. The intervention has dragged down the dollar, which, along with a firmer rupee and easing yield pressures, boosted attractiveness to EMs. The recovery was widespread across sectors, driven primarily by strength in IT and financial stocks, as a cooling yield environment supports spending. Yet, the market's optimism remains guarded as stubbornly high crude oil prices, driven by unresolved US-Iran tensions, continue to cast a shadow over inflation and corporate profitability. The near-term outlook is likely to hinge on the direction of global yields, energy prices and geopolitical developments, with sustained stability needed to keep earnings momentum and foreign inflows intact.
View by: Vinod Nair, head of research, Geojit Investments
