Indian Market Outlook for the week – 09 to 13.01.2017
Indian Market Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
Domestic stocks are seen trading with a positive bias, but will be volatile in an event-heavy week. Investors now
await key domestic and global economic data, and the first leg of Oct-Dec earnings. While the Central Statistics
Office will detail the first advance estimate of GDP for 2016-17 (Apr-Mar) later today, the data on consumer price
index-based inflation and index for industrial production will be released on Thursday.
The IIP and CPI data are crucial, as they will help gauge the impact of demonetisation. Investors will also monitor
the US monthly non-farm payroll data for December, due later today, which is expected to confirm a sixth straight
year of over 2-mln-job addition. Global markets will also lend cues to domestic equities next week.
The Nifty 50 is seen taking strong support at 8200 points. For the week, the index is likely to move in the range of
8200-8400 points. Benchmark indices yesterday ended the week with gains for the second time in a row.
The Nifty 50 closed at 8243.80, down 30.00 points or 0.4% from previous close, while Sensex closed at 26759.23,
down 119.01 points or 0.4%. Once the 8300-level breaks, Nifty50 will see a rally till at least 8400 points.
Besides economic data, investors will monitor the earnings of information technology majors Tata Consultancy
Services and Infosys, which will detail their Oct-Dec numbers on Thursday and Friday, respectively.
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Indian Market Outlook for the week – 09 to 13.01.2017
( www.rupeedesk.in )
