Indian markets is expected to consolidate the near future. The fed rate hike expected in December is the minds of traders. Even though the long term trajectory of markets may not have any impact due the rate hike in December the near term sentiment will have close correlation.
Also the quarterly results are yet to show any signs of improvement except for the mid and small cap space. low commodity and crude oil prices have helped in improving margins and profitability of many mid and small cap companies. The stock prices of many small cap companies have surged over the last one year, some have doubled and some given returns of up to 500% in the last one year. This leadership by individual small cap companies is expected to continue. This will enthuse retail investors who directly buy stocks because retail investors concentrate on mid and small caps.
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