Mkt driven by global cues, bullish on ACC: P Lilladher

Bodke says the rally in certain parts of the midcaps has gone too far and investors seem to be taking some money off the table.

Indian market as well as other emerging markets are driven by global cues, is the word coming in from Ajay Bodke of Prabhudas Lilladher. He expects the Indian market to remain volatile.

India VIX rose to 7.3 percent on Tuesday, its biggest increase since August 1. Bodke says the rally in certain parts of the midcaps has gone too far and investors seem to be taking some money off the table.

On the much-awaited Supreme Court decision on coal block de-allocation, he says if the apex court does not adhere to the government's plea to spare 46 coal blocks that are functioning or are about to start production, then the market will be under pressure.

Stay tuned for more…

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