Friday, 2 December 2016

Nifty will break Brexit day low

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The emerging markets are unlikely to do well in the near-term owing to a stronger dollar and rise in US bond yields, says Vibhav Kapoor, Director of IL&FS. He sees huge amounts of money flowing back from the EMs to the US. Vibhav says demonetisation or not, the Indian market is bound to suffer due to this in the near-term. Nifty, he says, is sure to break the Brexit day low point of 7,927 points. 

He is not too worried about the cash crunch at this point, as he feels it may only last for another month. But the main issue he says is how long the impact of demoetisation will last. The December quarter results of companies will show the real condition, he says. He is confident that bottomline may not actually be that bad. This fact will give a boost to trader sentiments.

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