Markets Building A Strong Base For The Next Upmove? Gaurang Shah Decodes Outlook

Indian markets have remained range-bound despite recent volatility, with investors watching oil prices, the rupee and corporate earnings. Gaurang Shah, Sr. VP, Geojit Investments, says the cooling in oil prices and improving rupee are positive signals for the market. With first-quarter earnings largely completed, corporate India has delivered a decent performance despite geopolitical concerns. Shah believes the current consolidation could be creating a strong base for the next upward move. He also says the initial market jitters over N Chandrasekaran’s resignation from Tata Sons should settle as investors focus on the group’s long-term fundamentals and succession process. Overall, he remains optimistic.