Mumbai: Stock market expert Sunil Shah said on Wednesday the benchmark indices could go up further if corporate earnings for the last quarter of 2018-19 are above expectations.
The figures expected later this month will show annual results of major corporates. “If they are above expectations, then markets will go up further,” he said.
Shah said investors are expecting bank lending rates to come down if the Reserve Bank of India’s Monetary Policy Committee cuts repo rate on Thursday.
‘There has been a lot of buoyancy in the market in the past few weeks. Foreign portfolio investors are bringing money back to India. The geopolitical scenario and macro-economic numbers in India also suggest a bullish trend,” he said.