“The single most important factor which the market will be focusing on in the coming days will be the outcome of the trade talks between the US and India. If an interim trade deal between the two countries is reached with a tariff rate of less than 20 % on India, that would be a positive from the market perspective.
Weekend Q1 results were good with ICICI Bank reporting the best numbers, particularly in PAT and credit growth. HDFC Bank also reported steady set of numbers. In the banking results, so far, Axis Bank’s numbers are the most disappointing. Flow of institutional funds from some banks to ICICI Bank is a possibility, going forward. RIL’s Q1 numbers are steady with Jio and retail posting good results. RIL stock has the potential to remain resilient.”
