Yield Play-Largely Done
Kotak Securities
Two out, third shaky.
We believe (1) the ‘yield’ story (multiple expansion) is largely done with
global central banks unlikely to cut short-term rates further; in fact,
global bond yields have started to harden and (2) the ‘cost’ story (margin
expansion st
*Market Wrap: 04/11/2016 (16:30)*
Nifty Fut (Nov) today closed around 8458 (-0.70%) after making a session
high of 8530 in the opening session and subsequent day low of 8426.
*Technically, for next week (07/11/2016), NF has to sustain above
8440-8485* area for any bounce back; otherwise i