Saturday, 15 April 2017

Market shifts from greed to fear zone: Nifty won’t move north in a hurry now

The domestic equity market remained flat through the week, as it prepared to enter the earnings season. The March quarter numbers of IT bellwether InfosysBSE -3.86 % were a mixed bag for investors, as the company reported a disappointing 2.86 per cent drop in net profit while announcing the distribution of higher payouts through dividends and Rs 13,000 crore by way of share buyback program.

US President Donald Trump’s remarks on the US dollar “becoming too strong” led to a sharp fall in the greenback. It seems the decade-old policy on US dollar will undergo a dramatic shift from a stronger dollar to weaker dollar, potentially threatening many business models across the world. Commodities like gold also saw a rise, as it hit multimonth high. The Supreme Court ruling quashing compensatory tariffs to Tata PowerBSE -1.29 % and Adani PowerBSE -2.95 %.

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