Experts expect the September momentum to continue in the coming months, but ask investors to read the RBI policy statement and management commentary after September quarter earnings as these will give have a bearing on the market.
"Post the government’s big-bang announcement of corporate tax reforms, the market has been buoyant.
Forthcoming Q2 results season is highly important, particularly the management commentaries stating their take on-demand environment and their plans for the excess cash flows on account of lower tax. The market will wait for this clarity before making a decisive new high," Vineeta Sharma, Head of Research at Narnolia Financial Advisors, told Moneycontrol.
Romesh Tiwari, Head of Research at CapitalAim, said, "
To hit the record highs by Diwali, we need to be certain that the revival in the real economy of India has started. I will wait for growth projections by the RBI and other institution after the big booster tax cuts by the finance ministry. If the growth projection by RBI at the end of this week improves and RBI cut rates by at least 25 bps, the Nifty can cross 12,000 by the end of October."
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