Indian Market Outlook for the week - 24 to 28.04.2017

Indian Market Outlook for the week - 24 to 28.04.2017

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Indian Market Outlook for the week - 24 to 28.04.2017 )

The earnings for Jan-Mar by index heavyweights Reliance Industries and Kotak Mahindra Bank, and the outcome of the first round of presidential elections in France will likely determine the direction of domestic benchmark indices next week. At the same time, usual volatility will prevail ahead of the expiry of the April derivative series on Thursday, as market participants ponder over rolling over their current positions. The benchmark indices recent lacklustre movement is likely to continue next week, with action being dominated by individual stocks and sectors. In the absence of major domestic triggers, benchmark indices have moved in tandem with global equity markets in recent sessions. The presidential elections in France are a key event for financial market participants. The first round of French presidential elections will conclude over the weekend, with only two of the current 11 candidates expected to get through to the second round. Experts view fear that a victory for Front National leader Marine Le Pen may bring uncertainty over the future of the European Union and the euro currency. Apart from external concerns, banking stocks direction next week will likely be determined by the earnings of Axis Bank and Kotak Mahindra Bank. Investors may also await more clarity from the government on reports that it may increase the loan tenure for the telecom industry.

Source : Cogencis Information Services Ltd.