Stock market engines that roared back on Friday may gather more steam this week, after the Bharatiya Janata Party-led alliance scored a runaway victory in the Maharashtra state assembly election.
However, market participants warned that a short covering-led rally could prompt investors singed by the recent correction to cut losses, potentially limiting the life of the rebound.
For now, they don't expect any significant impact from the indictment of Gautam Adani and other top group officials in the US, over allegations that the conglomerate has termed baseless.
"The market retracement will continue after the spectacular victory of the BJP-led alliance in Maharashtra," said Madhusudan Kela, founder of M.K. Ventures, a financial services firm, adding the recent correction has presented buying opportunities in beaten-down quality PSU stocks in capital goods, defence and railways.
The Nifty and Sensex gained around 2.5% each on Friday as foreign investors covered part of their bearish bets ahead of the state's election outcome over the weekend.
To be sure, the market was near heavily oversold zone, indicating that a bounce was overdue.
Bu hikaye Hindustan Times dergisinin November 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times dergisinin November 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Meghan returns to OTT with new lifestyle series
Following on the heels of her return to social media after five years, Duchess of Sussex, Meghan Markle has unveiled the trailer of her new lifestyle series, With Love, Meghan.
I've always gone with my gut: Mohit on taking diverse roles
Actor Mohit Malik, who reprises his role as a gay man in the second season of the web series Chamak, believes he has transcended his image as the \"quintessential television actor\" with this character.
Squid Game 3 release date 'accidentally' leaked
Netflix might have accidentally spilled the beans on Squid Game's final season, which was rumored to drop in 2025.
YEH DIL ABHI BHARA NAHIN, FT. RE-RELEASES!
While the costs involved are a concern for smaller filmmakers, Bollywood is largely optimistic about the trend of re-releases going strong this year as well
'Pan-India trend is killing remakes for good, formula will never replace story'
Kannada filmmaker-actor Upendra Kumar returned to direction after eight years with UI, which released in December.
Baldoni releases texts with Lively to counter sexual harassment claim
The ongoing legal battle between actor-director Justin Baldoni and actor Blake Lively has taken another turn.
Armaan: Standing next to Aashna, exchanging vows, felt surreal
Singer Armaan Malik gave a New Year surprise to his fans by dropping his wedding pics with fashion influencer Aashna Shroff on social media. They had an intimate ceremony on December 28 in Mahabaleshwar, Maharashtra, in the presence of their families and friends.
Hopefully, 2025 will be doubly energetic: Ishaan Khatter
As he steps into 2025, actor Ishaan Khatter's goal is to return to \"the big screen\".
Djokovic loses to Opelka in Brisbane quarter-finals
Former world number one Novak Djokovic's Australian Open preparations suffered a blow Friday as he was bundled out of the Brisbane International by towering American Reilly Opelka.
Ministry pulls up Usha on IGU elections
The sports ministry has taken a stern view of the Indian Olympic Association (IOA) president PT Usha recognising the Indian Golf Union elections won by the Harish Shetty-led faction, asking IOA to adhere to its constitution and the Sports Code.
