INDIAN MARKET & NIFTY

Indian stock market loses confidence over the period of lockdown due to lack of market liquidity.   The investors are very cautious that the market may further go down due to lack of demand and supply.  The Indian Prime Minister Mr Narendra Modi has announced  a financial package of rupees 20 lakh crore to boost the economy.  During the current pandemic covid-19 more than 35% working class have lost their jobs especially the working labours have lost their livelihoods due to the current countrywide lockdown.  

Indian stock Market Nifty is trending in the downward direction and have settled around 9060 mark last week.  The booster dose announced by the Finance Minister as a part of financial package for various MSMEs may have positive effect in mere future but sign of improvement is seen.  Stock Market Nifty may witness further downside around 8600 mark in the coming weeks.  Many heavyweight scripts especially in banking sector may further pull down the Nifty to downside.  The Nifty may trade around 9100 this week but the weakness persist.  Many PSU banks are traded nearly around their book value.  The Private Banks like ICICI, HDFC, Kotak, Indusind may further slide downward.  It is believed that, unless demand and sufficient liquidity is created in the market, the financial sectors will remain sluggish.