Market taking a breather to see how monsoon pans out: Experts

The market is likely to take a breather and consolidate around current levels as it awaits clarity on the way the monsoon pans out, say experts. On Tuesday, the market ended higher but way off the day’s high.

Ashwani Gujral of ashwanigujral.com feels the 7,950-level could be a hurdle for the 50-share Nifty Index.  

Anand Tandon, another market expert, said the recent rally was driven more by fund flows than any significant change in fundamentals. Only the assumption of a good monsoon has been driving the market, but good monsoon is not the only factor that sets everything right, he feels.

Currently, the market is looking expensive when valued on the basis of fourth quarter corporate earnings, said Tandon, adding, it is advisable to look at companies outside the index if at all one needs to invest.