Grinch Steals Nifty’s Holiday Cheer
Live Mint-- Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Optimism for hotel stocks faces room supply test A key driver of optimism for hospitality stocks has been the view that demand will continue to outstrip supply in the near future. Despite this, Kotak Institutional Equities believes better margins and faster- expected growth for managed properties warrant higher earnings multiple for branded hospitality players such as Indian Hotels Co. and Lemon Tree. The ‘Santa Claus Rally’ has skipped India’s stock market, with the 200-day moving average acting as a Grinch. The failure underlines the lack of confidence among traders amid lingering concern over company earnings, domestic consumption, and potential ripple effects of President-elect Donald Trump’s trade policies on global markets.
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