Weekly Newsletter :- Weak global cues continues to cast a shadow on Indian markets as the losing streak extended for the fourth straight week. Ebola fears, crash in Greece market, slow economic growth outlook globally and uncertainty about Federal Reserve saw global markets going into a tailspin. Declining September inflation numbers, impressive corporate earnings and sharp fall in crude oil prices failed to lift the gloom on the Dalal Street. CPI-based inflation eased for the second month in a row to 6.46% in September, compared with a downward revised 7.73% a month ago, driven by lower price increases in food and fuel items. The softening need not mean that RBI will consider a rate cut as this would depend on a host of factors including currency movement. Despite recent correction, investors appear ready to bet even on counters that are fairly valued given the long-term growth potential of stable companies. While Infosys, TCS? and Reliance Industries results are out of the way, a host of large-caps will announce their earnings in the next two weeks. HDFC Bank is expected to deliver a strong 24% earnings growth in Q2 FY15. It would be driven by 20% loan growth, restrained cost growth and stable credit cost. Further significant moderation in retail credit growth would disappoint.
Posted on: Fri, 17 Oct 2014 17:15:29 +0000
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