Wedding season set to boost demand for apparel, jewellery, hotels, aviation
As the wedding season is just around the corner, sectors like jewellery, apparel, hotels, aviation, and other related industries are likely to gain traction.
“Next week, we expect some momentum in the market to return as investors will take cues from various economic data including GDP numbers for the US, China & India,” said Siddhartha Khemka, Head – of Retail Research, Motilal Oswal Financial Services.
Vinod Nair, Head of Research at Geojit Financial Services, said domestic indices traded within a range throughout the week with a positive bias.
The Fed Reserve adopted a cautious stance and the muted trend in European and German markets was also echoed in domestic markets. Declining inflation and recent cooling job data in the US, along with easing US bond yields, attracted foreign funds to the emerging market.
The broader Indian market experienced some profit booking as investor attention shifted to the primary market, marked by a set of IPOs scheduled for the week.
Sectors such as consumer durables and realty took the lead, driven by a strong rebound in festive demand. However, the IT sector showed subdued performance in response to weak global data. Despite the RBI’s scrutiny of unsecured lending by NBFCs, the banking index demonstrated resilience this week, he said.
[With Inputs from IANS]
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