Market Outlook: Anil Singhvi says splendid Q4 results giving confidence to market
Zee Business Managing Editor Anil Singhvi says the quarterly results season so far has been spectacular and it is creating confidence in the market.
Zee Business Managing Editor Anil Singhvi says the quarterly results season so far has been spectacular and it is creating confidence in the market.
The Market Guru mentions that it has been a splendid results season so far, and we have been seeing such earnings numbers after perhaps 2003 and 2004. In fact, the last two quarters have reported extraordinary as well as satisfying results.
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He says, "Not even on a single point do we feel that there is a coronavirus pandemic-like situation with the companies reporting such extraordinary results." Singhvi added that the market could expect strong growth on the back of results season so far.
Heavyweights such as Maruti Suzuki, Bajaj Finance and Britannia Industries released their Q4 earnings for the financial year 2020-2021 on Tuesday. Other strong mid-cap companies such as TVS Motors, UBL, Nippon AMC, HDFC AMC too came out with their quarter four earnings.
Singhvi hailed all the above companies for their satisfying quarter results for increasing the confidence within the market. He expects that such splendid quarterly performance of the companies reduces the risk of market declining, amid the second wave of coronavirus scare.
As far as corona situation is concerned, the Maharashtra Cabinet is set to meet today mostly to review the current situation. Singhvi says that there can be two possibilities merging out of this. Either these stringent measures imposed by the state government will continue after reviewing the situation or it will little ease up. In the former case, believe there would be some nervousness in the market and pressure on the stocks.
However, the way companies have been reporting their quarter-four earnings, Singhvi doubts, there would be a larger impact on the market as all of this situation has short-life and on the long-term market will post a bull run. The results have been one of the important positive triggers for the market.
Amid the strong Q4 performance of the heavyweights and important mid-cap companies, the market grew over one percent at close on Tuesday. Nifty ended above the 14600-mark. Singhvi believes, if this continues market may hold its 14500 levels for quite some time going forward.
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