Monday, October 11, 2021
The renewed strength in the equity market, which got a boost from the Reserve Bank of India (RBI) persisting with its accommodative monetary policy on Friday,8th October, could push the Nifty past the 18,000-mark in the days ahead.
While investors will shift focus to September quarter earnings season starting this week, analysts warn that disappointments could take the wind out of their sails as stronger profits are seen as imperative to justify elevated share valuations.
On 8th October (Friday), the Sensex reclaimed the 60,000 and the Nifty ended 0.6% shy of 18,000,though the market gave up a portion of early gains sparked by the Indian central bank's continued monetary support.
Both indices had gained 2% last week, shrugging off global concerns over the likelihood of persistent high inflation, which is putting upward pressure on US bond yields.
