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#450 Daily Money Show | Money Purse Stock Market News
Original: # 450 Daily Money Show | Money Purse Stock Market News
Takeaway
Volatility ahead of the RBI policy and US CPI/Fed meetings - Ambit sees a 2-3 year rally led by Banking and IT.
Summary
- Sensex fell 33 points to 62,834 and Nifty closed at 18,701 in a volatile session; Bank Nifty +0.53%
- US November jobs data came in at 2.63 lakh jobs vs 2 lakh estimate, signaling economy not as weak as feared and raising odds of aggressive Fed hikes
- RBI MPC meeting began; outcome expected Wednesday with focus on size of rate hike since 6% inflation target not yet met
- Key December events: US CPI on Dec 13 and Fed meeting outcome on Dec 14 will set near-term market direction
- Ambit Capital CEO Sushant Bansal expects 2-3 year rally driven by double-digit earnings growth, bullish on Banking and IT sectors as IT growth rates have returned to attractive levels
Daily Money ShowRBIUS FedBankingIT Sector
Original description
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