The stock market is expected to drop before some consolidation this week as it looks towards global peers for cues and fresh triggers ahead of the Reserve Bank's monetary policy review on September 16.
Analysts also said that valuations were attractive for investors, although they remain concerned about high inflation and weak global markets.
The uncertainty in the US might hit the overall sentiment. The world's largest economy, for the first time in a year, failed to add new jobs with its unemployment rate unchanged at 9.1 per cent in August.
The dismal jobs data pulled down the country's benchmark stocks index, the Dow Jones Industrial Average, by over 250 points to 11,240.26 last Friday.food inflation crossed the double-digit level again to 10.05 per cent for the week ended August 20, while the overall or headline inflation was ruling at 9.22 per cent for the month of July.The rising interest rates have made borrowings costly for corporates, impacting their margins.In my view nifty again test below 4850 in coming week.
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