Commenting on the market, Amar Ambani, Head of Research, IIFL, said, “The market will remain more at the mercy of global cues. The Fed hike, for all the hue and cry, can also be read as a reflection of a spiraling US economy. A much bigger concern than Fed hike, in my opinion, would be another round of yuan depreciation, which could spark off another currency war. The IIP numbers later on Friday and the WPI and CPI numbers will grab temporary attention. If you are an index observer, you aren’t going to be blessed with a 1,000-point Nifty recovery any time soon. The remaining part of 2015 and possibly the rest of FY16 are likely to be volatile, with little chance of substantial returns.”
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