Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

There is no consistency in FII and DII behaviour so far this month. They are doing alternative bouts of buying and selling which is restricting the market in a range. The market needs triggers to break out or breakdown from this range. A probable negative trigger can be a slightly hawkish statement from the Fed postponing the rate cuts which the market expects to begin by March 2023. The US CPI inflation data due tonight will provide cues regarding this.

The Q3 results season starting today with the results of TCS and Infy will provide indications of the Nifty earnings for FY24. Financials, capital goods, telecom, automobiles and hotels will post good numbers. IT results will be tepid and FMCG will be a mixed bag.

More than broad market action, market responses will be stock-specific in response to results and management commentary.