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Growth steps, oil prices set to boost equities
Growth steps, oil prices set to boost equities

Mumbai, Aug 25 (TIWN) Indian equities along with the rupee which have lately faced headwinds of massive foreign fund outflows along with disappointing quarterly earning results will get a boost via Central government's policy measures to prop up growth along with falling crude oil prices, experts said.

Moreover, industry observers pointed out that the latest measures announced by Finance Minister Nirmala Sitharaman will assuage investors` nerves and bring back confidence in the Indian economy. In one of the most important measures, the government has rolled back higher surcharge on foreign and domestic portfolio investors.  "The current announcements will have significant impact on the sentiments of both domestic and international investors and is likely to arrest the fall in equity and currency markets," Edelweiss Professional Investor Research Chief Market Strategist Sahil Kapoor told IANS. "This coupled with fall in oil should lead to a significant bounce back in the coming days. Expect Nifty to find a base at recent lows and rally towards 11,400 to 11,600 range over the next few weeks."

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