While nifty slipping from the high of the day and ending in red territory is nothing new, it keeps happening. But this Friday it took place with PSU banks leading the profit booking move. This profit booking coming in the space which has done well in the last few weeks, tends to create more short term disturbances. There is a probability of a further selective correction taking place. In this period stocks where there are some improvements in the business operating matrix tend to weather the storm better. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
What’s driving US markets amid political uncertainty? Mark Matthews answers
But there are several other data points that would confirm the strength of the economy. On the other hand, inflation is tame, as we saw
October 18, 2024