Unlucky 9? Nifty bulls set to break 8-day rally as IT stocks play spoiler

The Nifty index’s eight-day winning run was brought to a halt by IT stocks downturn as Tata Consultancy Services missed Q4 estimates. The traders’ caution ahead of a three-day holiday also fuelled the temporary dip in the market. The inflation data, released in the US and India yesterday, is positive for investors, with the US’ consumer inflation rate coming in lower than forecasted. The medium- to long-term outlook remains positive for the equity market, despite future market uncertainty, although the near term could be bumpy, with the new fiscal year representing an opportunity for growth in the Indian equity markets.

Generated by Feedzy