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Global cues, macro data, stimulus may push equities higher
Equity markets will take cues from global developments and wholesale inflation data this week, while the third tranche of stimulus measures announced by the government may bolster sentiment, analysts said.
New Delhi: Equity markets will take cues from global developments and wholesale inflation data this week, while the third tranche of stimulus measures announced by the government may bolster sentiment, analysts said.
Finance Minister Nirmala Sitharaman on Saturday unveiled over Rs 70,000 crore of measures for exporters and the real estate sector, including about Rs 30,000 crore new spending in plans such as setting up of a stressed asset fund, as part of efforts to boost economic growth from a six-year low.
"The new measures announced by the FM send the clear message that the government is giving top priority to reviving growth in the economy.
The measures relating to housing and export promotion like textiles will provide a big boost to employment too since these are labour intensive industries.
The Rs 10,000 crore fund for providing last mile funding for stalled non-NPA, non-NCLT (housing) projects needs to be specially appreciated," said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services.
On the global front, geopolitical tensions in the Middle East ratcheted up after Yemen's Houthi rebels carried out drone attacks on two major oil plants in Saudi Arabia, affecting more than half of the Kingdom's output and putting upward pressure on global oil prices.
