Stock Market Outlook: Anil Singhvi says markets may continue to soar - points out 4 triggers aiding it

In a special edition of Editor’s Take today, Zee Business Managing Editor outlined the four triggers that would help the domestic markets to grow further. He expects, the market slowly and steadily will keep gaining unless any unfavourable factors.

The market guru says, “So far everything is good and no indicators of markets being in doldrums, perhaps its pace may slow down a little but that should be okay.”

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The four triggered Singhvi mentioned: Strong global markets, recovery in commodities, declining in corona cases in India, and foreign funds buying and selling.

Talking about the global market, Singhvi said, the trigger from global markets, undoubtedly, important for Indian markets. The strong US markets on an opening and closing basis important, and so far there is no indication of reversal, weakness, or a big correction so far in the US markets.

Similarly, the commodities have been weak since last week, however, it has also started showing recovery, said Singhvi, adding further it’s not that they have bottomed out their correction and would show a rally, but it’s been trying to be stable or rather normalising itself.

The other trigger that’s helping the market to soar is a decline in covid cases, said Singhvi. On May 30, India reported around 1.5 lakh cases in the last 24 hours, which was last reported on April 10.

Singhvi added, the decline in the corona cases gives confidence of things would normalise eventually giving a boost to domestic markets.  

While the other important trigger, Singhvi pointed out is buying and selling of foreign funds. FIIs on Friday bought around Rs 1000 crore in the capital market.