The domestic market continued to be positive at the beginning of the week, aided by strong FII inflow and favourable domestic macroeconomic data.
The manufacturing PMI and the GST collection in April were better due to an increase in new business, a strong pickup in consumer demand, and improved supply chain conditions,” said Vinod Nair, Head of Research at Geojit Financial Services.
As of today, half of the Nifty 50 companies announced their results, and the earnings growth of those stocks were below estimates, mainly due to weak performance by IT, metal, and cement stocks. While the results for banks, financials, and auto were better than estimates,” he added.
