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    Expecting a 2-3% rally on Monday: Saurabh Mukherjea

    Synopsis

    FM’s move on Friday will see the markets regain lost ground.

    While the finance minister’s announcement will energise the market, there might be some fiscal cost, says Saurabh Mukherjea, Founder & Chief Investment Officer, Marcellus Investment. Excerpts from an interview with ETNOW.

    The finance minister made a big announcement on Friday and said she was going to follow it up with two more announcements next week. But from the equity markets perspective, the pre budget position has been restored for FPIs and domestic investors. Come Monday, do you expect fireworks?
    Everybody and their father and mother in the stock market was apprehensive and the market was in a free fall. The way we were giving up almost 1% of the stock market value, on Monday we should see a good 2-3% rally which should make up a big part of the lost ground.

    That being said, if you have to feel for the bond investor, there is a fiscal situation in our country and the announcements will cost the government.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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    3 Comments on this Story

    Subhash Bhai390 days ago
    no announcement for 2 wheelar companies bad for hero moto, bajaj
    Vikram Rao, FRM390 days ago
    Well if indeed there is a 2-3% rally, it would give investors some respite and a chance to get out of the bucket where-ever they are stuck. The market could rally for more than a day but that would be it. This market is probably headed to 4- digits in September. And if SIP flows become a trickle or perhaps negative then NIFTY could go close to 9000. The point is a lot of frontline stocks particularly in the FMCG and the Private banking spaces are still trading at nonsensical valuations .
    Natarajan D390 days ago
    Difficult to predict market reaction
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